Investor pulls out of Woodstock 50 and leaves festival in shambles

Halsey (Photo: Getty)
Halsey (Photo: Getty)

New York — Woodstock 50 is proving to be as chaotic as the original festival held in 1969.

A financial investor in the festival announced on Monday it was pulling its funding from the anniversary event, set to take place 16-18 August in Watkins Glen, New York.

In a statement, Dentsu Aegis Network's Amplifi Live says "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."

Miley Cyrus, Jay Z and Halsey were among the headliners for the much-talked about event. 

Representatives for the festival or Michael Lang, who co-founded Woodstock, didn't immediately reply to emails seeking comment.

Tickets for Woodstock 50 were originally supposed to go on sale last week, but that was postponed.

A new ticket sale date still has not been announced.