The UK Competition Commission has approved the proposed merger between Ticketmaster and Live Nation.

The Competition Commission (CC) has done a surprise u-turn and ruled in favour of a merger between ticketing agent, Ticketmaster and concert promoter, Live Nation.

Following an investigation into the proposed merger which concluded in October, the CC had provisionally ruled the proposed merger was “anti-competitive”. It highlighted concerns over the fact that the new business could “severely inhibit the entry of a major new competitor into the UK ticketing market,” – namely CTS Eventim.

The CC said that a change in direction on its decision was unusual, but not unique.

“The very purpose of publishing our provisional conclusions is to provide all parties with the opportunity to review them and to put forward new evidence or arguments,” said the CC’s Deputy Chairman and Chairman of the Inquiry Group, Christopher Clarke.

“In this case, when we considered the totality of the evidence, arguments and analysis, we reached the conclusion that the merger will not result in a substantial lessening of competition in the market for live music retailing or in any other market in the UK, including live music promotion and live music venues.”

The decision was welcomed by both companies.

In a joint statement, Chris Edmonds, Managing Director of Ticketmaster UK, said: “We are very pleased with the CC’s decision to clear the merger. Today’s clearance is an important milestone in the regulatory review process, and brings the companies a step closer to creating a new kind of live entertainment business.”

Live Nation’s Head of UK Operations, Paul Latham, also commented: “During the course of this merger process, we have listened to our fans, artists and other parties. And we have reassured them that by combining the resources of these two companies, we will deliver a better live music experience for the entire sector.”

The pathway is not completely clear for the merger, however, as it is still under investigation by the US competition authorities as both companies are headquartered in the US.