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Investor pulls out of Woodstock 50, leaving fest in shambles

A general view of the field where the 1969 Woodstock music festival took place at Bethel Woods Center for the Arts, in Bethel, New York. The museum, which is scheduled to open to the public on June 02, 2008, explores the experience of the 1969 Woodstock Music and Arts Fair via photos, artifacts and multi-media exhibits. On August 15 to 17 August, 1969, some 500,000 spectators gathered in a field to attend the Woodstock music festival, a landmark musical display reflecting the cultural transformation of American youth. EMMANUEL DUNAND/AFP/Getty Images)

NEW YORK (AP) — Woodstock 50 is proving to be as chaotic as the original festival held in 1969.

A financial investor in the festival announced Monday it was pulling its funding from the anniversary event, set to take place Aug. 16-18 in Watkins Glen, New York.

“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,” Dentsu Aegis Network’s Amplifi Live said in a statement.

Representatives for Woodstock 50 or Michael Lang, who co-founded the festival, didn’t immediately reply to emails Monday seeking comment.

The anniversary event has had some bumps in the road in the last few weeks. Tickets were originally supposed to go on sale last week, but was postponed (a ticket sale date still has not been announced). And some of the performers leaked to the press ahead of its announcement.

Jay-Z, Dead & Company and the Killers were announced as headliners at the event, to take place about 115 miles (185 kilometers) northwest of the original site. The event is separate from an anniversary concert planned at the site of the original festival in 1969.

More than 80 artists, including John Fogerty, Miley Cyrus, Santana, Imagine Dragons, Robert Plant and The Sensational Space Shifters, the Black Keys, Chance the Rapper and Janelle Monae, are expected to perform on three main stages at Watkins Glen International racetrack in the Finger Lakes for Woodstock 50.

The original concert was held on a farm in Bethel, New York, that is now run as an attraction by The Bethel Woods Center for the Arts. The venue has its own anniversary event Aug. 16-18 with performances by Ringo Starr, Fogerty and Santana.

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