The music company has an interest in more venues after teaming up with MCD...
Live music giant the MEAN FIDDLER has increased its dominance on the UK scene as part of a new share deal.
This morning it was announced that Mean Fiddler Chairman Vince Power has sold 16.21% of the company to Denis Desmond, founder of Irish promoters MCD.
Desmond will also take a directorship of the company. Power takes £4.5million, and retains 34.9% of the company.
Desmond’s interests in London’s Shepherd’s Bush Empire and Brixton Academy, as well as the V Festival means that Mean Fiddler now has interests in all three major summer festivals in England, as well as an increased stronghold of London venues.
The company already controls the Astoria, the Mean Fiddler, Jazz Café, G-A-Y, the Forum and the Garage. Last week it also took control of the Borderline.
Longtime operators of the Reading and Leeds festivals, in 2001 Mean Fiddler took an increasing stake in Glastonbury as part of modifications that saw the introduction of the ‘superfence’.
In a statement, Power said: “We are very pleased to welcome MCD as a major shareholder in Mean Fiddler. I have known Denis for over twenty years and have always respected him as a competitor. Together we can work to deliver value to Mean Fiddler shareholders through increased bargaining power with both artists and suppliers. Desmond’s interests in the Shepherds Bush Empire, Brixton Academy and the V festivals complements our activities with the Astoria, Forum and Reading, Leeds and Glastonbury festivals perfectly and gives us a very strong position in the market.”