Live Nation And Gaiety Investments Acquire Irish Promoter MCD Productions

Denis Desmond and Caroline Downey
Phillip Massey/Getty Images
– Denis Desmond and Caroline Downey
Attending the Night For Love Charity Ball in aid of The Samuel L Jackson Foundation and Irish Autism Action on February 13, 2010 in Dublin, Ireland

LNG, the joint venture between Live Nation and Gaiety Investments, has reportedly acquired Irish promoter MCD Productions.

Gaiety Investments is owned by Denis Desmond, chairman of Live Nation UK, and his wife Caroline Downey, who manages Hozier and Irish duo Hudson Taylor.
Desmond is also the co-founder and owner of MCD Productions, which now fully operates under the LNG banner.
According to Irish music publication Hot Press, “the deal has potentially important repercussions for music in Ireland.”
One London-based agent told the publication: “This has to be a positive development for Irish musicians and bands. The group has an imprint all over the world, and there is a strong Irish presence in the company. This is a deal which strengthens that link, and will result in a greater level of access for Irish artists to festival bills and touring abroad.”
Desmond has since confirmed the accuracy of the report with Pollstar.
Desmond was instrumental in building MCD into one of the world’s renowned promoters, bringing the world’s biggest acts to Ireland, including local heroes U2, Guns N’Roses, Taylor Swift, MadonnaColdplay, Eminem, Beyoncé, Michael Bublé, and many more.
LNG owns the Academy venue group in the UK, including Brixton Academy, promoter Festival Republic, and a number of festivals in the UK and Europe, including Reading, Leeds, Latitude and, most recently, Isle Of Wight Festival.
According to Hot Press, the LNG-MCD deal will not affect either the Gaiety Theatre or the Olympia Theatre in Dublin, Ireland, which are owned separately by Denis Desmond and Caroline Downey’s Gaiety Investments.
The news follows other Live Nation UK related news, in which Paul Latham, president and COO International of Live Nation UK announced his retirement.