Cornbury boss is hoping to sell half of the festival

Cornbury Music Festival boss Hugh Phillimore is hoping to sell a 50 per cent stake in the event in a bid to make the festival profitable.

Festival organiser Mr Phillimore has confirmed (here), in an interview with the Witney Gazette, that negotiations are at an advanced stage with two different companies, which he hopes would boost the annual festival held at Cornbury Park, Charlbury, Oxfordshire.

Mr Phillimore refused to name the organisations, to the newspaper, but did confirm that one is a large music group which includes a record company, and the other is a large music promoter.

The festival has failed in its first five years to make a profit and Mr Phillimore hopes that if an arrangement is made it would involve both finance and 'know-how' to improve the festival.

Mr Phillimore revealed that he has been thinking about a partnership for a while. He told the newspaper, "The festival has been going for over five years now and I think if it was with the right people it could be great. Both the parties I'm talking to are big names and realise that what makes Cornbury so special is its local feel."

The festival organiser is hoping that having a partner who is also involved in other festivals will lead to him being able to reduce the costs of Cornbury. He's reported as saying, "It's all the boring stuff like getting better deals for staging and fencing. The backers we are looking at will bring with them an opportunity to reduce these costs."

The festival originally had six offers to buy into it in one shape or other and there are now two left in the game. Mr Phillimore said the future of Cornbury would still be secure even if he did not find a new partner.

Mr Phillimore also revealed that an announcement about the deal would be made onFriday 6th March, the same day that the festival's line-up will be revealed. He also confirmed that the deal was not yet finalised, "I haven't done the deal yet. Part of me would like to remain 100 per cent independent, but part of me realises that you can't in this day and age."

"The festival has become much bigger than I imagined. It's a million pound operation now, and when I started it was a couple of hundred thousand. It's a very scary ride and it would be quite fun to have some of the big boys around."

He added that for as long as he was at the reins of the event the basic feel of Cornbury would not change. Speaking about this year's festival, Mr Phillimore said he was very excited about some of the acts he hoped to confirm. "At the moment I'm quietly confident that we are going to come out with something fantastic."

The dates for the 6th Cornbury Music Festival are Saturday 11th and Sunday 12th July 2009.

In addition to the music, the festival offers a variety of attractions including a fairground, theatre workshops, arts and crafts, speciality shops, novelty acts and upmarket catering offering everything from champagne and cappuccinos to real ale.

'Early bird' tickets have now come off sale. Full priced tickets are not yet on sale. For a weekend with camping an adult ticket will be £140; a child under-16 ticket £95; and a child under-10 ticket £75. Tickets will also be available for the weekend without camping. These will be priced at £115 for an adult ticket; £70 for a child under-16 ticket; and a child under-10 ticket will be priced at £55.

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