The status of Woodstock 50 is currently in limbo.
Yesterday, Billboard reported that the festival would be canceled as a result of financial investor Dentsu Aegis Network pulling its support for the event.
In a statement explaining why it is pulling out, the investor said: “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.”
Despite the rumors of cancellation, Woodstock 50 co-founder Michael Lang took to Facebook to say that the show will go on.
Lang says planning for the festival will continue as he searches for new partners.
The festival was planned to take place August 16th through 18th in Watkins Glen with a wide variety of performers including Jay-Z, Miley Cyrus and Imagine Dragons.