The Battersea Power Station event, which last year attracted 10,000 visitors a day, will now be owned 50% by former owners Sports Vision, 25% by Channel 4, and 25% by listed firm Boomerang Plus.
Channel 4 will supply marketing support and on air promotion for the festival, Sports Vision will organise the event side and Boomerang will produce three televised programmes, including one show in the T4 schedule.
Last year's music line up included Reverend and the Makers, the Automatic, The Enemy and the Cypress Hill and they.
The Freesports on 4 Freeze festival, as it is now known, will take place on 30 October to 1 November this year.
To add a comment yourself and let us know your thoughts.