Woodstock 50 has a new investor
Original Woodstock co-founder Michael Lang said that Woodstock 50 would be able to progress now that its court order against former financial partner Dentsu Aegis Network has been settled, and sure enough, the festival announced today that they've found a new investor to replace Dentsu, who pulled out in late April. Pitchfork reports that American investment bank Oppenheimer & Co will now help finance the festival.
"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, said in a press release. "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."
Woodstock 50 has yet to announce a replacement for former producers Superfly, and they are also waiting on the finalization of permits. Lang and his Woodstock partner Greg Peck discussed this and more, including when we might expect to see tickets go on sale, in a radio interview yesterday