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

• Jurisdiction: Ireland
• Parties: County Tipperary Radio Limited,Clare Community Radio Holdings plc,Terence and Gay Mangan
• Date: 10 April 2013
• Decision Number: M/13/006
• Status: Cleared (Phase 1)
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Date: 10 April 2013

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

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. 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

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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.