Court Awards Woodstock 50 Partial Victory Over Former Financiers

Woodstock 50 is completely broke but somehow still going ahead

Woodstock 50 is completely broke but somehow still going ahead

On Wednesday, Justice Barry Ostrager ruled in favor of Woodstock 50 LLC, and found that Dentsu did not have the right to cancel the festival, which may proceed as planned.

Singer John Fogerty speaks during the announcement event for the lineup for the Woodstock 50th Anniversary concert in NY, U.S., March 19, 2019. For everyone who hasn't been following along, here's a brief summary of the scene so far: A few months ago, Woodstock co-founder Michael Lang announced that Woodstock would be hosting a special 50th anniversary event to be held this August in upstate NY, funded in-part by Japanese investor Denstu Aegis Network, which owns event production company Amplifi Live.

Variety reports organizers for the 2019 Woodstock festival won a key decision against financial backer Dentsu Aegis Network on Wednesday.

"Woodstock 50 is on!" "We can't wait to bring this important event to the public this summer", managing member Gregory Peck proclaimed via statement.

Woodstock co-founder Michael Lang also said, "We have always relied on the truth and have never lost faith that the Festival would take place". I would like to thank all of the talent and their representatives for their patience and support. "Woodstock 50 will be an unbelievable and inspiring festival experience". "Which was and remains Woodstock 50's mission".

Despite the judge signaling that the festival can move forward, it was made clear that Woodstock 50 "has not met the high burden entitling it to a mandatory injunction" that would return the $17.8M they say was "pillaged" by Dentsu upon announcing their departure.

All Woodstock 50 performers - including Jay-Z, Santana, Miley Cyrus, The Killers, Chance the Rapper, John Fogerty, Janelle Monae, Dead & Company, Halsey, and Imagine Dragons - have been paid in advance. "Amplifi [Live] asserted by convincing testimony adduced at the hearing that it meant to mitigate its damages from a music festival that could not be successfully produced by mid-August because, among other reasons, multiple permits necessary to conduct the Festival were not in place, tickets had not yet been sold, no budget had been agreed upon, necessary and expensive structural improvements to the Festival site and related areas had not yet started, and the production company essential to produce the Festival had withdrawn, '" the statement read.

According to a court filing, Amplifi had agreed to provide $49 million to cover the production costs of the 50th anniversary festival of the original 1969 Woodstock that featured such acts as The Who, Jefferson Airplane and Jimi Hendrix.

While the future of Woodstock 50 appears to still be very much in the air - considering producer Michael Lang and the organization planning the event has yet to officially secure other investors - fans can at least hold out hope now that it has been, for the time, uncancelled. Tickets - $450 for three-day passes - were supposed to go on sale April 22, but still aren't available due to a late application for a mass gathering permit from the state Department of Health.

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