Music concert firm acquisition to be investigated by watchdog

The majority shareholder in the firm behind music festival T in the Park is to be investigated by the Competition and Markets Authority (CMA).

LN Gaiety Holdings – which, according to its most recent accounts, owns 78% of T in the Park promoter DF Concerts Ltd – is looking to acquire Irish concert promotions firm MCD Productions. The CMA yesterday said it was investigating whether the acquisition would result in a “substantial lessening of competition within any market or markets in the United Kingdom for goods or services”.

The period for comments lasts until the end of this month, with a decision due by July 11.

T in the Park last ran in at Strathallan Castle in 2016.