A full investigation is to be carried out into the sale of Ireland’s biggest music promoter to the owners of the country’s biggest music festival.

The Competition and Consumer Protection Commission is examining whether the move to sell MCD to the owners of Electric Picnic could result in less competition in the entertainment industry.

As well as owning EP, LN Gaiety Holdings has business arrangements with Live Nation UK.

The owner of Live Nation UK operates Ticketmaster, the 3Arena, Gaiety, Olympia and Bord Gais Energy theatres in Dublin.

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