A competition regulator said it takes councillors' concerns about an offer from a major events company to run St David's Hall very seriously. A number of Cardiff councillors wrote to the Competition and Markets Authority (CMA) last month to raise concerns that the potential takeover of the classical music venue by Academy Music Group (AMG) could lead to a monopolization of event venues in the city.
The eight councillors who wrote to the CMA pointed out that Live Nation, which owns a large part of AMG, currently operates the Cardiff International Arena and will be a joint operator of the new arena at Cardiff Bay. In response to the letter, which was signed by Councillors Adrian Robson, Calum Davies, Catriona Brown-Reckless, Joel Williams, Emma Reid-Jones, John Lancaster, Peter Littlechild and Sian-Elin Melbourne, the CMA said: "We take such concerns very seriously."
The regulator added that it cannot speculate on what mergers it will or will not investigate, and that its assessment of merger activity, prior to opening an investigation, is a confidential and market sensitive process. An offer by AMG to take on St David's Hall via a long-term lease was approved in principle by Cardiff Council's cabinet in December. However, a final decision isn't expected until a voluntary ex-ante transparency (VEAT) notice period is complete.
