Everybody wants more disclosure in the fund industry, but one Fidelity-backed company may be taking it too far, giving its main backer a red face. The NY Post reports today that Fidelity is the biggest backer of Private Media Group, a Spanish company in talks with broadcasters to bring its latest twist on reality television to U.S. audiences.

The premise of Private Media's show, called Private Stars, is to stage a survival-of-the-fittest among five male porno star wannabes.  

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