Artistic control rests with Michael Eavis

Mean Fiddler

But local councillors had warned that they could withdraw the festival's licence due to security concerns if the deal fell through.

Mean Fiddler, which also runs the Reading, Leeds and Homelands festivals, will still take a 20% stake in the festival, to rise to 40% in three years.

The company's managing director, Melvin Benn, will become operations director at Glastonbury after Mr Eavis called a meeting to clear up uncertainties.

Michael Eavis: Will keep overall control

"They have reached an agreement which will protect the spirit of the Glastonbury festival," a spokesman for Mean Fiddler told BBC News Online.

"Mean Fiddler's involvement will be the operational management of the festival - things like security, crowd control, perimeter fencing, that sort of thing."

Mr Eavis had been worried that his event's celebrated laid-back identity might disappear and that the festival could be swallowed up by the commercial music empire.

But the Mean Fiddler spokesman added: "Artistic control rests with Michael Eavis."

"It's absolutely imperative that this working arrangement succeeds for the future of the festival."

This year's Glastonbury is expected to attract 140,000 people

Donations to charities like Greenpeace will stay at the same levels as in previous years, he said.

Mr Eavis said he had some misunderstandings with Mean Fiddler - but was not sure why.

"I suppose I was fundamentally letting go of part of the festival, and that was difficult for me."

Mr Eavis has held the event, which is expected to attract 140,000 people this year, on his Somerset farmland for more than 30 years.

Professional

There had been fears that this year's festival could be called off if the deal fell through.

The local council had demanded professional management for security, which must be water-tight at this year's event if the festival is to have a long-term future.

This year's event is due to take place on 28-30 June, with Blur, Radiohead and Stereophonics among the bands rumoured to be appearing.