**UPDATE** The 50th anniversary celebration of the iconic Woodstock festival has been cancelled by investors, but organizers think they can still pull it off.
Just hours after investors announced the cancellation of Woodstock50, organizers have released a statement of their intentions to carry on with the festival.
“We are committed to ensuring that the 50th Anniversary of Woodstock is marked with a festival deserving of its iconic name and place in American history and culture,” Woodstock 50 LLC said in a statement. “Although our financial partner is withdrawing, we will of course be continuing with the planning of the festival and intend to bring on new partners. We would like to acknowledge the State of New York and Schuyler County for all of their hard work and support. The bottom line is, there is going to be a Woodstock 50th Anniversary Festival, as there must be, and it’s going to be a blast.”
Rumors reported last week about the festival’s disorganization proved true today with a statement of Woodstock 50’s cancellation came thru today (April 29). Officials with Dentsu Aegis Network, which is funding the festival, released the following statement.
“It’s a dream for agencies to work with iconic brands and to be associated with meaningful movements. We have a strong history of producing experiences that bring people together around common interests and causes which is why we chose to be a part of the Woodstock 50th Anniversary Festival. But despite our tremendous investment of time, effort and commitment, we don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees.”
The statement goes on, “As a result and after careful consideration, Dentsu Aegis Network’s Amplifi Live, a partner of Woodstock 50, has decided to cancel the festival. As difficult as it is, we believe this is the most prudent decision for all parties involved.”