Woodstock 50 has been fighting an uphill battle the past month, after passing its expected on-sale date and then having multiple issues inherent to the festival exposed, among having its main investor pull out and “cancel” the festival.
However, the festival is lucky as a judge in New York Supreme Court has ruled that investor Dentsu Aegis Network did not have the capacity to completely cancel the festival on its own. That being said, it’s mostly a legal victory as Woodstock co-founder Michael Lang still reportedly has to find $30 million in funding.
While the judge ruled that Dentsu couldn’t cancel the festival outright, it was also ruled that the investment company did not have to return the $17.8 million it took from their joint account to Woodstock. That, in addition to the fact that W50 still has not secured the proper permits for the festival during the rigmarole.
A talent agency head previously told Billboard, “We’re not even going to have a discussion with Lang until we see that every permit needed for this event has been secured. I’d also like to hear how he plans to convince fans to buy tickets for an event that’s been already canceled.”
Yet somehow, Lang still seems confident that the festival will take place. “We have always relied on the truth and have never lost faith that the Festival would take place,” Lang said in a statement reacting to the judge’s decision. “I would like to thank all of the talent and their representatives for their patience and support. Woodstock 50 will be an amazing and inspiring festival experience.”
As of right now, Woodstock 50 will still take place August 16th-18th in Watkins Glen, New York.
This article was first published on Your EDM. Source: Judge Reverses Woodstock 50 Investor’s “Cancellation” But Will It Matter?
from Your EDM http://bit.ly/2Q6sXtL
