Decision Nº M/13/006 from Competition and Consumer Protection Commission, 2013-04-10

Decision NumberM/13/006
PartiesCounty Tipperary Radio Limited,Clare Community Radio Holdings plc,Terence and Gay Mangan
StatusCleared (Phase 1)
Merger Notification No. M/13/006 – Clare FM & Terence and Gay Mangan/Tipp FM
DETERMINATION OF MERGER NOTIFICATION M/13/006 -
Clare FM &Terence and Gay Mangan / Tipp FM
Section 21 of the Competition Act 2002
Proposed acquisition by Clare Community Radi o Holdings plc, Terence
Mangan, Gay Mangan and Liam O’Shea of joint control of County
Tipperary Radio Limited
Dated 10 April 2013
Introduction
1. On 14 March 2013, in accordance with section 18 of th e Competition
Act 2002 (“the Act”), the Competition Authority ("the Authority”)
received a n otification of a proposed acquisition whereby Clare
Community Radio Holdings plc (trading as Clare FM (“Clare FM”)),
Terence Mangan, Gay Mangan and Liam O’Shea would acquire joint
control of County Tipperary Radio Limited (trading as Tipp FM (“Tipp
FM”)).
2. On 14 March 2013 , pursuant to section 23 (1) of the Act, the
Authority forwarded a copy of the notification to the Minister and
notified the undertakings involved in the proposed transaction that the
Authority co nsidered it to be a “media merger” within t he mean ing of
section 23 of the Act.
The Proposed Transaction
3. As indicated ab ove, th e p roposed t ransaction concerns the a cquisition
of joint control over Tipp FM by Clare FM, Terence Ma ngan, Gay
Mangan and Liam O’Shea. The acq uisition of joint co ntrol would be
effected through Dreamglade Limited (“Dreamg lade”), a new company
that has been created specifically for the purposes of the proposed
transaction.
4. The issued share capital of Dreamglade is currently held by Clare FM
(44.7%), Terence Ma ngan (13.8%), Gay Mangan (13.8%) and L iam
O’Shea (27.7%). Clare FM, Terence Mangan, Gay Mangan and Liam
O’Shea jointly control Dreamglade.
5. In the proposed transaction, Dreamglade would acquire 5 6.1% of t he
issued share capital of Tipp FM
1
. The acquisit ion of 56 .1%
shareholding will confer Dreamglade control over Tipp FM. As
Dreamglade is jointly controlled by Clare FM, Terence Mangan, Gay
Mangan and L iam O’Shea, the proposed transaction will confer jo int
control of Tipp FM to Clare F M, Terence Mangan, Gay Mangan and Liam
O’Shea. It is intended that no decision within Dreamglade regarding
1
At present, the issued share capital of Tipp FM is held by Irish Press Media (28.47237%) and
Butville Limited (27.68018%), Active Link Co-Operative Society (17.09748%) and a number of
other companies and individuals. Dreamglade will acquire 56.1% shareholding from Irish Press
Media and Butville Limited.

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