The UK’s competition regulator has opened an investigation into the proposed US$4 billion takeover of ticket resale site StubHub by its rival Viagogo, after music industry figures raised concerns about the potential impact on fans.
The Competition and Markets Authority (CMA) is inviting comment about Viagogo’s purchase of the business from eBay would have on the UK market.
It comes two weeks after campaign group FanFair Alliance, backed by senior figures in the music industry including the managers of PJ Harvey, Mumford & Sons, and Arctic Monkeys, claimed the deal would hand a monopoly to Viagogo, which has faced frequent criticism over its business practices and treatment of consumers.
Viagogo announced in November it was buying StubHub from eBay, which bought the company for US$310 million in 2007. It means Viagogo’s boss Eric Baker will be reunited with StubHub, which he co-founded but left before the eBay sale.
