The Belgian Competition Authority (BCA) has launched an investigation into Live Nation Entertainment’s acquisition of Pukkelpop, one of the largest music festivals in Belgium. The probe was directed by the Minister for Economic Affairs and announced on November 12. Live Nation, a global leader in live entertainment, completed the deal last month, extending its “collaboration of more than 40 years” with Pukkelpop. Under the terms, Live Nation becomes the ultimate parent company, though Pukkelpop will remain under the leadership of founder and CEO Chokri Mahassine and his co-founders. Pukkelpop is a major annual event near Hasselt, Flanders, attracting 250,000 visitors. The BCA will assess how the takeover affects competition in festival organization and the broader live entertainment sector. The regulator noted that Live Nation is already active across the entire value chain in Belgium, providing artist booking services, operating major venues (like AFAS Dome and Forest National), and managing ticket sales via Ticketmaster. Live Nation also organizes three other major Belgian festivals: Rock Werchter, Dour, and Graspop. The investigation is being conducted independently and relies on rules that prohibit anti-competitive agreements and abuses of dominant market positions under Belgian and European Union law. The BCA emphasized that opening the probe does not guarantee a specific outcome. Despite regulatory challenges, Live Nation’s financials remain robust. The concert giant reported strong Q3 2025 results, with revenue climbing 11% year-over-year to $8.5 billion. On their earnings call, Live Nation President and CFO Joe Berchtold stated that future shows and festivals are selling “as fast as ever,” indicating strong consumer demand. [H/T] Music Business WorldwideLive Nation Acquires Pukkelpop, Belgium To Launch Anti-Trust Investigation
The Investigation