The highly anticipated Woodstock 50 music festival has been cancelled, according to Billboard.com.
Since the announcement of the 50th-anniversary festival, organizers have faced hurdles involving permits and recently faced scrutiny over ticket prices.
Earlier today officials with Dentsu Aegis Network, which is funding the festival, released the following statement to Billboard:
“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.
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 50 says it is currently assessing its legal position. The statement was made by Dentsu was apparently not in consultation with Woodstock 50.
Schuyler County Administrator Tim O’Hearn said he was shocked, and the cancellation came as a “tremendous disappointment.”
“We are disappointed, but we also have to respect their decision,” he said.
The economic impact for the area would have been in the millions, O’Hearn said.
The three-day musical festival was promoted as “3 days of Peace, Love & Music,” to celebrate Woodstock’s 50th anniversary.
Since its announcement, Woodstock has been plagued by issues including logistical problems, permits, safety and ticket prices.
Jay-Z, Dead & Company and the Killers were announced as headliners of the event