Woodstock 50 to 'Be a Blast' Despite Investor's Exit, Organizer Assures

Supporting Michael Lang's denial that the 50th Anniversary Festival had been canceled, the organizing team claim that they 'intend to bring on' new financial partners to ensure that it will go ahead.

AceShowbiz - The organiser of the upcoming "Woodstock 50" music festival has insisted the three-day event is still going ahead.

Acts including Jay-Z and The Killers were scheduled to perform at Watkins Glen in New York in August for the 50th celebration of the 1969 festival, but the future of the event was thrown into doubt on Monday, April 29, when the officials at the Dentsu Aegis Network, the festival's main investor, declared it had been cancelled.

Festival boss Michael Lang, who masterminded the original Woodstock, "vehemently" denied it had been cancelled, and the team later issued a lengthier statement in which they insisted they would find new investors to ensure the event went ahead.

"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," the team said. "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."

The future of the festival first seemed uncertain when ticket sales were postponed and The Black Keys announced they were pulling out.

Explaining their reasons for withdrawing the funding, Dentsu Aegis Network officials said they "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."

"Woodstock 50" is set to take place between 15 to 18 August and will feature performances from Miley Cyrus, Halsey and Chance The Rapper.

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