Honchos at Dentsu Aegis Network -- the festival's main investor -- dropped the hammer Monday, saying, it doesn'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."
Sounds like they were afraid Woodstock 50 would become Fyre Fest 2019.
Tickets for Woodstock 50 were supposed to go on sale last week, but never did. Organizers said they were trying to iron out logistics while waiting to hear back from the New York State Department of Health after applying for a mass gathering permit.
As we reported ... the massive music and arts event was supposed to feature huge names like Jay-Z, Chance the Rapper, Imagine Dragons, Carlos Santana, Dead & Company and Halsey. We know at least some of the artists have NOT been informed the show's off.
Worth noting ... the promoter, Michael Lang, does not agree Woodstock 50 is sunk. He tells us Dentsu's announcement was a "complete surprise," but adds ... they're not giving up on the festival yet.
We reported a few weeks back that ticket sales were postponed because of permit issues but this definitely comes as a shock. Looks like Michael Lang should've let Bethel Woods handle it instead of trying to strike out on his own. No investors, no show!