Woodstock 50 canceled after Miley Cyrus, The Raconteurs drop out

July 31 (UPI) -- Organizers canceled the beleaguered Woodstock 50 Music and Arts Fair on Wednesday after months of setbacks and about a dozen musical acts dropped out.

The news came less than three weeks before the festival's scheduled dates. Last week, organizers moved the event from Watkins Glen and Vernon, N.Y., to Columbia, Md., after local officials in New York refused to approve a permit and organizers lost financing.

"The unfortunate dispute with our financial partner and the resulting legal proceedings set us off course at a critical juncture, throwing a wrench in our plans and forcing us to find an alternate venue to Watkins Glen," festival organizer Greg Peck told TMZ.

"The timing meant we had few choices where our artists would be able to perform. We worked hard to find a way to produce a proper tribute -- and some great artists came aboard over the last week to support Woodstock 50 -- but time simply ran short."

Organizer Michael Lang said those behind the festival tried to downsize the concert after having to change locations. They had planned a collaboration with voter turnout group HeadCount to raise funds.

"We are saddened that a series of unforeseen setbacks has made it impossible to put on the festival we imagined with the great line-up we had booked and the social engagement we were anticipating," Lang told Rolling Stone.

Earlier Wednesday, Miley Cyrus and The Raconteurs became the latest musical acts to drop out, joining Jay-Z, The Black Keys, Santana, Dead & Company, the Lumineers, John Fogerty and John Sebastian, who also pulled out.

Cyrus was among the original headline acts announced for Woodstock 50 in March. The festival was meant to celebrate the 50th anniversary of the original Woodstock, which took place in 1969.