Woodstock 50 is back in business after organizers find new financial partner for golden anniversary festival featuring Miley Cyrus and Halsey
Organizers of Woodstock 50 scored a legal victory on Wednesday when a New York Supreme Court judge ruled previous financial backer, Dentsu Aegis, did not have the authority to cancel the three-day event.
Now, two days later, there's word Oppenheimer and Co., a New York-based investment bank and financial service company, have signed on to secure the funding for the festival.
'We will gain financing from our clients and funds in the company,' a source revealed to TMZ about where the money is coming from.
Back on! Woodstock 50 scored a new financial partner ;comedy writer Alan Zweibel, HeadCount ex. dir. Andy Bernstein; hip hop star Common; Woodstock co-founder, Michael Lang and rocker John Fogerty were all on hand to announce the lineup in NYC in March
Golden anniversary: The three-day event goes from August 16-18 in upstate New York
'We are thrilled to be onboard for this incredible weekend of music and social engagement,' John Tonelli, head of Debt Capital Markets & Syndication at Oppenheimer & Co. Inc, said in a statement as reported by Rolling Stone.
'We believe in Woodstock as an important American cultural icon and look forward to its regeneration in the green fields of Watkins Glen this August with all of the artists on the remarkable lineup.'
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Detsu, a Japanese advertising and marketing company, pulled back it's $17.8 million investment offer and declared the event cancelled on April 29.
The judge's ruling on Friday allows the anniversary show to go forward but it did not force the company to return the funds.
On board: MIley Cyrus is slated play on day one of the event, right before headliners The Killers
Bringing the rock: Halsey, who has a new song Nightmare out now, was penned to play the third and final day of the festival on August 18
Organizers, which includes original 1969-co-founder Michael Lang, still have to secure a number of crucial permits in order for the festival to move forward August 16-18.
Tickets won't go on sale until those permits are finalized.
The festival headliners announced in March were The Killers, Jay-Z, and Dead & Company.
The lineup also included Miley Cyrus, Chance The Rapper, The Lumineers and Halsey, as well as legacy artists like Santana, John Fogerty and David Crosby.
The festival would mark the golden anniversary of the 1969 Woodstock Music and Art Fair, held in Sullivan County.
The festival: Headliners announced in March were The Killers, Jay-Z, and Dead & Company
