Over the last year and a bit, Electric Picnic’s owners have been locked in a battle for the control of the direction of the festival. POD Music owner John Reynolds took the case against Festival Republic and today have reached an agreement.
POD Music were a co-shareholder but now will divest its stake to Festival Republic, leaving Festival Republic, a subsidiary of MCD and Live Nation since 2005 in sole control of the festival.
“EP Festivals is pleased to report that an agreement has been reached between POD Music and Festival Republic Dublin regarding Electric Picnic. As part of the agreement, POD Music, a co-shareholder in Electric Picnic, has agreed to divest its stake to Festival Republic Dublin. Festival Republic Dublin would like to thank John Reynolds, director of POD Music, for his contribution to the successful development of Electric Picnic and wish him well for the future. Electric Picnic looks forward to welcoming its fans for this year’s event on 29th August 2014 for three days with Portishead, Outcast, Beck, Foals, Pet Shop Boys, Paolo Nutini, Chic featuring Nile Rodgers, Lily Allen, Blondie, Simple Minds, Sinead O’Connor, Mogwai, James Murphy and many more…….”
