Huge problems remain beyond the fact that Lang lost his main financial backers. The bottom line is, there is going to be a Woodstock 50th Anniversary Festival, as there must be, and it’s going to be a blast.” “We would like to acknowledge the State of New York and Schuyler County for all of their hard work and support. “Although our financial partner is withdrawing, we will of course be continuing with the planning of the festival and intend to bring on new partners,” they said. Michael Lang’s team put out a competing statement saying that Dentsu didn’t have the power to kill the whole thing. “Despite our tremendous investment of time, effort and commitment,” Dentsu said in a statement, “we don’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.” Woodstock co-founder Michael Lang is refusing to throw in the towel, but his main investor, Dentsu, has pulled out and released a statement saying the whole thing is off. Woodstock 50 isn’t officially dead at this point, but it’s on life support and the prognosis seems very, very grim.
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