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Vince Power Buys Into Benicassim

(CelebrityAccess MediaWire) — Vince Power has re-entered the festival world as the new owner of Spain’s hugely popular Benicassim music festival.

Power, who organized the Glastonbury and Reading festivals with his company Mean Fiddler Music Group, has been out of the UK concert scene for nearly a year, since he sold the festival and music company to Clear Channel for £38 million. His acquisition of the majority stake in the Benicassim Festival is his first move back into the business, aside from purchasing 12 bars and restaurants in the West End of London to “keep himself busy.”

“It’s like the Reading Festival but with sunshine,” he told the Telegraph.

Under the terms of the sale of Mean Fiddler, Power is not allowed to own or run festivals in the UK for three years, but has fulfilled his needs by reaching out of the country.

“The festival market in the UK is saturated anyway. In the summertime there are two festivals every month,” he told the paper.

Bennicassim is only the start of Power’s intended comback, as he is reportedly eyeing other opportunities in eastern Europe, and he plans to start building up his UK venues business, Vince Power Music Group, once he is contractually allowed. This time around, however, he is ready to take a more balanced approach to building an empire.

“When I started Mean Fiddler I bought and bought and would never sell anything. I always wanted to turn around failing venues. Now if someone says ‘I want to buy this place from you’ I would say ‘let’s do a deal and put your money where your mouth is’,” he told the Telegraph..

This year’s Benicassim will feature Franz Ferdinand, Depeche Mode, Morrissey, the Pixies, the Strokes, Echo & The Bunnymen, Babyshambles, Scissor Sisters and Editors. –by CelebrityAccess Staff Writers