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Mcd

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  • 08-12-2003 7:07pm
    #1
    Snip182
    Closed Accounts Posts: 38 ✭


    Mcd have bought a stake in mean fiddler which runs the reading festival.I wouldnt be sure if it might go ahead now.


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    #2
    Kurdt
    Closed Accounts Posts: 1,710 ✭✭✭Kurdt


    this doesnt bode well for le future


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    #3
    honru
    Registered Users Posts: 4,585 ✭✭✭honru


    Promoter Desmond joins Mean Fiddler (Source: RTE News)
    British entertainment group Mean Fiddler has announced a link with Irish live music venue owner and outdoor music festival promoter Denis Desmond.

    Mean Fiddler chairman Vince Power said in a statement he had sold 10 million shares - a 16.2% stake - to Desmond's MCD, promoter of the V festivals and owner of London's Brixton Academy and Shepherd's Bush Empire live music venues. Desmond will join the Mean Fiddler board.

    Power retains 34.9% of the issued share capital in Mean Fiddler, which promotes the Leeds and Reading rock festivals and owns London's Astoria and Jazz Cafe and other venues. It also has a stake in Glastonbury, Britain's biggest summer music festival.
    'I have known Denis for over 20 years and have always respected him as a competitor,' Power said in a statement.

    'I have thought long and hard about giving up majority control of the group that I founded, but this deal is unquestionably the right one for the future of Mean Fiddler,' he added, saying the tie up would increase bargaining power when negotiating with artists and suppliers.


    Excuse my ignorance on stocks and shares, but what does this actually mean? Do MCD now have control over Mean Fiddler or what?


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    #4
    Dermo
    Registered Users Posts: 1,514 ✭✭✭Dermo


    mcd don't have control over mean fiddler but they now have a very big shout in what happens. the problem now rests with Stradbally. it is all ready to go(for a 2 day festival but could be 3) mcd pretty much stopped it from happening in Kells last year but I do think it will go ahead, the only problem with it being an mcd run event rather than a mean fiddler run event.

    it could be that a lot of the bands might only play reading & leeds and not stradbally, we'll just have to wait and hope it works out

    but from what's being thrown around it will definatly go ahead, just with more mcd interaction along with mean fiddler


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