Decision Nº M/03/034 from Competition and Consumer Protection Commission, 2003-11-19

• Jurisdiction: Ireland
• Parties: Boosey & Hawkes,Classic Copyright
• Date: 19 November 2003
• Decision Date: 19 November 2003
• Status: Cleared (Phase 1)
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Number: M/03/034

Determination of the Competition Authority

Determination No. M/03/034 of the Competition Authority, dated 19 November

2003, under Section 21 of the Competition Act, 2002

Notification No. M/03/034 – Proposed Acquisition of Boosey & Hawkes plc by

Classic Copyright Limited

Introduction

1. On 24 October 2003 the Competition Authority, in accordance with Section 18

(1) of the Competition Act, 2002 (“the Act”) was notified, on a mandatory basis,

of a proposal whereby Classic Copyright Limited (“Classic Copyright”) would

acquire, by way of a public offer, a 100% interest in Boosey & Hawkes plc

(“Boosey & Hawkes”).

The Parties

2. Boosey & Hawkes is principally involved in the field of classical music

publishing, being the business of acquiring and exploiting the copyright to the

composition of a piece of music. It derives some royalty income from Ireland.

Until recently, Boosey & Hawkes also manufactured and sold musical

instruments. That division was sold in 2003 and is not a part of this transaction.

3. Classic Copyright is a UK company established for the purpose of making the

offer for Boosey & Hawkes. It is controlled by the HgCapital Group

(“HgCapital”), a provider of private equity finance throughout Europe that has

investment interests in a number of businesses within the State. HgCapital has an

existing investment in Eagle Rock Entertainment Limited (“Eagle Rock”), a

record label active principally in the rock/pop music genre which also produces

documentaries for television and DVD. Generally, Eagle Rock does not own any

copyright of the music it releases, with the exception of a small number of its

artists.

Analysis

4. Boosey & Hawkes’ activities involve the acquisition of rights from a composer or

a composer’s estate in order to exploit those rights in exchange for an advance

and a share of the royalties generated. Exploitation is the global use of the music

by the live performance industry, broadcasters, record companies, film and T.V.

producers and printed sheet music publishers. Boosey & Hawkes is only

involved in the acquisition or exploitation of copyright in relation to classical

music. It is not involved in the acquisition or exploitation of copyright in relation

to rock/pop music. HgCapital is involved in the music industry generally through

its interest in Eagle Rock. However, Eagle Rock is not engaged in the business

of classical music publishing, and only has a very small interest in exploitation of

copyright for a small number of artists in the rock/pop genre. Accordingly, it

was found that as there was no significant overlap in the competitive activities of

the parties, common ownership between Boosey & Hawkes and Eagle Rock

would not substantially lessen competition.

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