Business Irish

Wednesday 21 August 2019

Takeover of MCD approved

Denis Desmond
Denis Desmond

The sale of concert promoter MCD to Live Nation has been approved by Irish regulators, but subject to conditions including that authorities be told in advance of any takeover of a new music festival.

The Competition and Consumer Protection Commission said that following the deal, sister companies MCD and Ticketmaster must also each act independently and each in its own interest, regulators said.

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The businesses must also take steps to ensure that information about planned tours being promoted by rivals using venues owned or managed by Live Nation - including the 3 Arena - is not shared with MCD.

Owners Denis Desmond and Caroline Downey agreed last August to sell MCD Productions to LN-Gaiety Holdings, their joint venture with Live Nation.

Irish Independent

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