In a statement to the publication, representatives from the major investor Dentsu Aegis Network said:
“It’s a dream for agencies to work with iconic brands and to be associated with meaningful movements. We have a strong history of producing experiences that bring people together around common interests and causes which is why we chose to be a part of the Woodstock 50th Anniversary Festival. But despite our tremendous investment of time, effort and commitment, 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."
The festival organizers did not believe that the production could live up to the "Woodstock" name and therefore did not feel comfortable continuing with the festival. It is also worth noting that the quote features a statement on the health and safety of "artists, partners, and attendees" raising the question of what the specific production problems were.
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Woodstock 50 was set to take place August 16th-18th, 2019 at Watkins Glen International Speedway and feature performances from Jay-Z, Chance The Rapper and more.