A full investigation is to be carried out amid concerns over a proposed merger of MCD Productions and LN-Gaiety Holdings.

The Competition and Consumer Protection Commission (CCPC) has said the move is needed after a preliminary inquiry.

It says a full investigation is required "in order to establish if the proposed transaction could lead to a substantial lessening of competition in any market for goods or services in the State."

The CCPC will publish its reasons within 60 working days, to allow parties to request that confidential information be removed from the published version.

LN-Gaiety Holding is a UK incorporated joint venture between Live Nation (Music) UK Limited and Gaiety Investments.

Its business activities are mainly on the operation of a number of music festivals and venues, including ownership of the Electric Picnic festival.

Live Nation (Music) UK Limited is owned and controlled by Live Nation Entertainment Inc - which also owns and operates Dublin's 3Arena and operates the Bord Gaís Energy Theatre.

It also manages venues, including the Gaiety and Olympia Theatres in the capital, on behalf of Gaiety Investments.

MCD Productions is a promoter of live music events, including the Longitude and Vital music festivals.

Interested parties are invited to make submissions no later than 5.30pm on January 18th.

Submissions should be marked "M/18/067 - LN-Gaiety / MCD Productions" and addressed to Donnacha Hennessy, Senior Investigator / Analyst, Competition Enforcement and Mergers Division, Bloom House, Railway Street, Dublin 1 - or sent by e-mail to donnachahennessy@ccpc.ie