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.