Electric Picnic Resolution Could Be In Sight

The case was accepted into the Commercial Court – the branch of the High Court designed to fast-track the resolution of business disputes – by Justice Peter Kelly. However, mediation is the preferred route for any wrangle and the hope is that the issues between the parties can now be satisfactorily resolved.
Hot Press understands that there has been contact between the two sides, raising expectations that this year’s Stradbally Hall Estate event will go ahead at the end of August as planned.
Previously the sole owner of the event, POD’s John Reynolds sold a 71% stake in the Picnic in 2009 to Festival Republic, whose shareholders include Live Nation and Denis Desmond’s Gaiety Investments.
Reynolds is claiming that an agreement for him to remain in charge of booking Picnic artists has been reneged on by Festival Republic, something that the latter’s Melvyn Benn strenuously denies.
Festival Republic had planned to announce the first batch of Electric Picnic acts on April 16, though how the current negotiations might affect this remains to be seen.
Needless to say, there's much speculation as to who'll be playing with Daft Punk, David Byrne, My Bloody Valentine, Franz Ferdinand, Arctic Monkeys and Thom Yorke’s Atoms For Peace among the acts rumoured for this year's event.
The one thing that is certain is that all Irish music fans will be hoping for a positive outcome.