Mean Fiddler may be sold

CONCERT promoter and music venue owner Mean Fiddler says it has agreed to a takeover offer backed by MCD chief Denis Desmond that values the business at €55 million.

The offer for the company by Mr Desmond is also backed by US media giant Clear Channel Communications.

Mean Fiddler, which runs the Leeds and Reading music festivals and has a 39% stake in the Glastonbury Festival, said its board would recommend the 87 cent cash offer.

Waterford businessman Vince Power is the largest shareholder in Mean Fiddler and will net millions from the sale of the company he founded.