A legal action to compel a company involving promoter Denis Desmond, to pay £5.3 million (€6.2m) relating to a deal for acquisition of the Mean Fiddler Music Group has been almost fully resolved after a bank draft for that amount was received last Friday.

BRITISH competition watchdogs have started a process to decide whether the proposed takeover of Mean Fiddler Music Group, the London-based entertainment business founded by Irish-born Vince Power, requires investigation on competition grounds.

SHARES in the Mean Fiddler Music Group, the concert promotion business run by Irishman Vince Power, crashed by more than 20% yesterday after the company sacked its new chief executive and pulled out of a planned acquisition.

SOME of the biggest names in Irish music have emerged as the backers of a bid for a radio licence in Dublin.

Meanfiddler.com says its plans to buy out Meanfiddler Holdings will go ahead after raising £5m for the enlarged group.