Woodstock 50 festival canceled, investors say, but organizers dispute report

April 29 (UPI) -- The Woodstock 50 Music and Arts Fair has been canceled, according to investor Dentsu Aegis Network. However, organizers say the August event is still on.

Woodstock 50, which would have celebrated the 50th anniversary of the original Woodstock that took place in 1969, was to feature musical acts such as Jay-Z, Miley Cyrus and The Killers.

Santana, Dead & Company, Chance the Rapper, The Black Keys, Sturgill Simpson, Imagine Dragons, Halsey, Cage the Elephant, Janelle Monae, Common, Portugal. The Man, Vince Staples and many more also were scheduled to perform in Watkins Glen, N.Y., from Aug. 16-18.

"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," Dentsu Aegis Network said in a statement.

"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," the company continued.

"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."

Organizers responded to Dentsu Aegis Network's statement through a representative. "Woodstock 50 vehemently denies the festival's cancellation and legal remedy will [be] sought," they told USA Today.

Woodstock 50 is being produced under license from Woodstock Ventures, a company founded by original Woodstock producers Michael Lang, Joel Rosenman and the late John Roberts. Artie Kornfeld, another original producer, is set to rejoin the team.

Woodstock 50 was first announced in March. Tickets for the festival never went on sale. A planned Earth Day ticket sales event was postponed over reported permit issues.