Woodstock is still happening despite investors pulling out, says co-founder

Yesterday, Woodstock cancellation headlines broke when, much to everyone’s dismay, the investor behind the 50th-anniversary event pulled their funding. The funding team behind Woodstock 50 stated to Billboard: “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.”

However, Woodstock co-founder Michael Lang told TMZ that Dentsu’s announcement came as a “complete surprise.” Now Woodstock organizers insist that the golden anniversary will still be taking place as planned on August 16-18 in Watkins Glen, New York.

“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,” representatives for Woodstock 50 shared with Pitchfork. “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.

Woodstock 50 representatives also shared the following statement with Vulture and the local Poughkeepsie Journal: “Woodstock 50 is currently on a call with Dentsu and Woodstock 50 vehemently denies the cancellation of the festival and will be seeking legal remedy to the comments.”

While many fans are now calling it Fyre 2.0, @TheFestiveOwl says it may be time to move on. Despite the fact that the festival is seeking out new investors, the festival is only 100 days out, which is why Live Nation and AEG have reportedly turned them down.

H/T: Complex