Music empire to launch TV channel

Mean Fiddler attracts more than 2 million people to its festivals and venues

The music firm behind Reading and Fleadh music festivals has, in a long-awaited briefing on its stock market flotation, revealed plans to start a digital TV channel.

Bosses at the Mean Fiddler empire, which has grown from a single club in north London in 1982 into an international concern, have said they will launch the channel within two years.

"The directors believe that interactive TV represents the logical conclusion to the convergence of technologies and the future for digital broadcasts," a statement on Friday said.

The channel would allow the empire, which attracts more than 2 million customers to its events and venues, to exploit further its music festival operations.

Stock market listing

The plans were revealed in a document detailing plans to merge the Mean Fiddler Holdings, the festivals and venue business, with its sister firm Meanfiddler.com, which runs internet and rights operations.

While Meanfiddler.com has been listed on London's small-company Aim market since May last year, the rest of the empire has remained in private hands - notably those of founder Vince Power.

Mr Power, a former demolition worker and second-hand furniture salesman, still owns more than one-third of Mean Fiddler Holdings, and stands to make more than £10m from the listing.

More soon.