An investigation by the Competition and Markets Authority (CMA) is being launched to examine the completed acquisition of LN-Gaiety Holding (Live Nation) of Isle of Wight Festival.

The CMA has published its Initial Enforcement Order, stating: “The CMA has reasonable ground for suspecting that is it or may be the case that LN-Gaiety Holding Limited and Isle of Wight Festival Limited have ceased to be distinct.

“The CMA is considering, pursuant to section 22 of the Act, whether it is or may be the case that a relevant merger situation has been created and whether the creation of the situation has resulted or may be expected to result in a substantial lessening of competition in any market in the United Kingdom.”

Live Nation has been on an infamous acquisitions spree, making eight international acquisitions in 2016 alone.