Report: Woodstock Festival loses venue [UPDATE]

Update, 8:23PM EST, Monday 10th June: Woodstock 50's organisers have confirmed to The FADER that Watkins Glen will not be hosting this year's festival. Read the full statement from Gregory Peck, principal, below.

“We confirm that we will not be moving forward with Watkins Glen as a venue for Woodstock 50. We are in discussions with another venue to host Woodstock 50 on August 16th—18th and look forward to sharing the new location when tickets go on sale in the coming weeks.”

Original story: Woodstock 50, the troubled semicentennial anniversary celebration of the legendary music festival, has lost its venue, according to a Rolling Stone report. Watkins Glen International, the New York grounds initially announced as Woodstock's home, told the magazine they would be pulling out.

“Watkins Glen International terminated the site license for Woodstock pursuant to provisions of the contract,” a representative told Rolling Stone in a statement. “As such, WGI will not be hosting the Woodstock 50 Festival.”

The latest potentially fatal setback for Woodstock 50 comes after weeks of financial difficulties. In May, festival co-founder Michael Lang launched a lawsuit against the festival's former investor Dentsu Aegis Network, accusing the organization of sabotage and illegally withdrawing $17.8 million from a shared account. Denstu blasted the festival for "incompetence" in a statement, claiming safety and financial concerns gave them no choice but to pull out of the event in April.

A justice with the New York Supreme Court sided with Woodstock in its lawsuit accusing Denstu of a breach of contract, but the company was not compelled to return the $17.8 million. Woodstock announced a new financial backer on May 20, investment bank Oppenheimer & Co.

Woodstock 50 is scheduled to take place August 16–18, location unknown. The FADER has reached out to Woodstock's representatives for more information.

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