Denis Desmond, Ireland's leading music promoter, has upped his stake in Mean Fiddler, the group behind the Glastonbury festival, in a move to create a new force in pop music events.
Mr Desmond plans to forge closer links between his MCD Productions and Mean Fiddler, which was founded in 1982 by Vince Power. He took an initial 16.2 per cent of Mean Fiddler in December and his latest acquisition of 5 million shares takes his stake to 24.3 per cent. The two companies are keen to expand Mean Fiddler's Jazz Café concept, a successful venue in Camden, North London, with a site due to open in Paris this September.
Mean Fiddler said yesterday that Mr Desmond's increased interest in the company would result in even closer co-operation. The two would now have greater bargaining power with artists and suppliers and would be able to increase the cross promotion of each other's events.
Mr Desmond's career as an impresario makes him a familiar face among Ireland's party set. He recently attended the wedding of Westlife's Shane Filan to Gillian Walsh along with the likes of Ronan Keating and Shay Given, the Ireland and Newcastle goalkeeper.