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The deal will give Clear Channel part ownership of flagship live music venues like the London Astoria, as well a stake in the Leeds and Reading Festivals, and a degree of involvment in the Glastonbury Festival.
Commenting on the deal, a spokesman for the venture group who bought Mean Fiddler on Clear Channel's behalf told reporters: "Following the acquisition, the Mean Fiddler group will continue to pursue a strategy of delivering world-class event promotion and event management both through its festivals and music businesses in the UK".
