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Driscoll gets backing for new firm

Adam Driscoll, the former chief of music company Mama Group, is to make a comeback with a new venture, Granon Entertainment. The firm, which plans to target the live music sector, has secured financial backing from venture capital firm Edge Performance. Mama, which represents the likes of Franz Ferdinand and the Kaiser Chiefs, was bought by music and DVD retail giant HMV at the end of last year in a £46m recommended offer. Earlier this year, Edge launched two new investment funds to focus on the entertainment sector.