Woodstock 50 Organizers Manage to Acquire New Investor

Just two days after New York Supreme Court ruled Dentsu Aegis had no authority to scrap the festival, Michael Lang thanks financiers at Oppenheimer and Co. for agreeing to fund the weekend event.

AceShowbiz - Organisers behind the embattled Woodstock 50 anniversary festival have been given a big boost after landing a new investor.

Financiers at Oppenheimer & Co. have agreed to fund Michael Lang's big gig this summer, two days after New York Supreme Court Justice Barry Ostrager ruled the weekend event was no longer officially cancelled, as investors at Japanese advertising and marketing company Dentsu Aegis, who pulled out late last month, had no authority to scrap the festival.

The news gives Lang the opportunity to get Woodstock 50 back on track, ahead of its planned launch in Watkins Glen, New York from August 16 to 18.

Celebrating the investment, Lang, who also organised the original Woodstock in 1969, tells TMZ, "We look forward to putting on an incredible festival."

He also thanked Oppenheimer chiefs for "joining with us to make W50 a reality."

Jay-Z, Dead & Company and Imagine Dragons were previously announced as the headliners of the show. It's not yet clear if they are all still attached to perform if Lang manages to pull off Woodstock 50.

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