The organizers behind the Woodstock 50 festival that's being planned for 2019 are countering reports that the multi-genre festival has been canceled, announcing that while their original financing has fallen through, they are moving forward to make sure that there will still be a Woodstock 50th Anniversary Festival "as there must be."

“We are committed to ensuring that the 50th Anniversary of Woodstock is marked with a festival deserving of its iconic name and place in American history and culture," Woodstock 50 LLC said in a statement issued Monday (April 29), just hours after the group who were slated to fund the event announced they were pulling out due to multiple concerns.

"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," Woodstock 50 LLC's statement continues. "We would like to acknowledge the State of New York and Schuyler County for all of their hard work and support. 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.”

Woodstock 50 was slated to run from Aug. 16-18 in Watkins Glen, N.Y., featuring appearances from Sturgill Simpson and Margo Price, among other diverse musicians from across genres. Brandi Carlile, Anderson East and Miley Cyrus are also among the artists announced to perform, but the event has been dogged by rumors of trouble since early on. The Black Keys pulled out of a slated headlining set, and tickets were delayed before going on sale.

Dentsu Aegis Network’s Amplifi Live was set to fund the festival before announcing they were pulling out on Monday. According to Billboard, they were concerned about site readiness, permitting and capacity, and the company had reached out to AEG and Live Nation to try to secure an additional $20 million to save the event before deciding to pull the plug.

Woodstock has a long history with difficulty. The original festival in 1969 was swarmed by nearly half a million people when organizers had expected 50,000, and two previous anniversary concerts have been negatively impacted by severe weather conditions.

Woodstock 50 LLC's statement does not clarify who might be stepping in to provide further funding for the event to go forward.

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