One-time Mean Fiddler main man Vince Power - who sold his company to Clear Channel last year - has purchased a majority stake in Spain's Benicassim Festival. He's called the three-day event "Reading Festival but with sunshine".
Power's unable to own or run any festival in the UK for another three years, as per the conditions of him selling Mean Fiddler, which is why he's gone overseas to invest in such events. He was interviewed in The Telegraph:
"The festival market in the UK is saturated anyway. In the summertime there are two festivals every month."
Power also has plans to become involved with events in Poland and Hungary. This year's Benicassim Festival runs from July 20th 'til the 23rd, and the line-up features Babyshambles, Coldcut, Depeche Mode, Franz Ferdinand, The Futureheads, The Pixies and The Strokes. Click here for the official website.