An attorney for the Woodstock 50 festival has confirmed that planning and production for the iconic music festival is proceeding, despite recent news that its financial backers have pulled out.

“This confirms that Woodstock 50 is proceeding with the planning and production of the festival,” declares the statement from Marc Kasowitz, attorney for the festival. “Dentsu has no legal right or ability to cancel it.”

He adds, “All stakeholders, including the entertainers, should proceed with the understanding that the event will take place as planned and if they have any questions, they should reach out directly.”

Dentsu Aegis Network’s Amplifi Live, the company that was providing financial backing for Woodstock 50, said earlier this week it was “canceling the festival” because it doesn’t “believe the production…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 stated the 50th anniversary edition of the famous festival will go on, despite Dentsu’s withdrawal.

“We have yet to understand why [financier Dentsu-Aegis] would try to prevent the festival from happening by seemingly undermining us in this way,” Lang wrote.

“It is one thing to decide for oneself that it is best to move on, but it is entirely another thing to try and close the door on us,” he added. “Woodstock never belonged to Dentsu, so they don’t have a right to cancel it.”

Woodstock 50 remains scheduled for August 16-18 in Watkins Glen, New York, about 140 miles from the original Woodstock festival site in Bethel, New York.

The lineup includes headliners such as Jay-Z, Chance the Rapper, Imagine Dragons, The Killers, Miley Cyrus and Santana, among others.

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