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Irish competition watchdog examines of MCD takeover

World News
February 5, 2019

IRELAND               

The country’s Competition and Consumer Protection Commission (CCPC) is looking into the takeover of Ireland’s dominant promoter MCD Productions by UK-based LN-Gaiety (LNG), a 50/50 joint venture between Live Nation Entertainment (LNE) and a company owned by MCD owner Denis Desmond and his wife Caroline Downey.

Desmond is LNE UK’s non-executive chairman (see Audience 223).

Stage 2 scrutiny by the CCPC will seek to determine whether the deal will lead to a substantial lessening of competition in the market.

It is believed that the CCPC will consider the impact on the Dublin venue landscape, as MCD owns The Olympia (cap. 1,600), The Gaiety (2,000), The Ambassador (1,200) and The Academy (650), while LNE owns the city’s 3 Arena (cap. 14,000).

“It is just part of the standard process for this sort of thing, they are just doing their job,” Desmond tells Audience. “We expect it to be resolved by late June, early July. We don’t expect any issues.”

Neither the CPCC or LNE would comment as Audience went to print.

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