T In The Park teams up with Madonna's 'label'

T In The Park has signed a deal with concert promoter LiveNation.

The music giant has teamed up with Denis Desmond's Gaiety Investments to control 67 per cent of Dance Factory, which runs the festival.

Geoff Ellis, boss of DF Concerts and T In The Park, said: "We are pleased to welcome Live Nation into DF Concerts.

"We look forward to continuing to work with an array of diverse artists and creating first class events such as T In The Park and Hydro Connect."

The move comes after Jay-Z, Madonna and U2 all signed multi-million dollar deals with Live Nation.

Festival organisers claim the move will not affect festival goers, reports The Daily Record.

Denis Desmond said: "I have been the main investor in this great business for many years. It is a natural progression for me to transfer this investment into my UK joint venture with Live Nation."

Paul Latham, President of Live Nation UK, added: "Live Nation is delighted to have a promotional and festival presence in Scotland. We are looking forward to working with Geoff Ellis and his team on their many projects."