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Sziget announces new festival

Sziget Kft, the organizer of the popular summer festival along with a range of other cultural and entertainment events has announced the launch of a new festival.

StarGarden will take place on June 4 and June 5 in the outdoor area of the Puskás Ferenc Stadium, with a lineup of acts targeting the musical preferences of the over 40 age group. The program for 2010 includes international stars like Deep Purple, Animals, Kool and the Gang, Blood Sweat and Tears, John Mayall, along with a sampling of the biggest Hungarian names from several decades ago.

Sziget’s majority owner, listed media/telecoms company econet.hu, said the festival has strong backing from its commercial radio NeoFM, since the core audience of the two largely overlap.

The index.hu news portal said the new event on the calendar would turn a profit with a turnout of 20,000 visitors each day.

Econet also just released its annual report for 2009 which showed an annual loss of HUF 630 million caused on the one hand by the media market recession from the crisis and also the expenses of launching NeoFM. (press release)