Take That insider rides to rescue Power's music firm
Published 07/07/2013 | 05:00
Impressario Simon Moran, the man credited with paving the way for Take That to reform, has emerged as one of the new backers of Wexford man Vince Power's Benicassim Festival business.
The Killers, Queens of the Stone Age, Primal Scream and Dizzee Rascal are pencilled in to headline this year's bash.
Last week, Power said that the "difficult economic climate, coupled with the bad year suffered by Music Festivals Plc, prompted my decision to sell a majority shareholding in Benicassim. I am pleased that two of Europe's best-known festival promoters are now taking part".
Denis Desmond, owner of heavyweight concert promoter MCD, has also bought a stake in Maraworld SA, the operating company of the festival. Moran's SJM and Desmond now control a majority shareholding, with Power retaining a small stake.
Moran, the owner of rugby league champions the Warrington Warriors, has been described as the "most influential music executive of the Noughties". He fronted Take That's Progress tour in 2011 – the highest grossing stadium tour in Irish and UK history.