Woodstock 50 adds new partners
NEW YORK (AP) -- Organizers of the Woodstock 50 festival are signaling progress toward resolving a financial crunch after a falling-out with backer Amplifi Live. The festival announced Friday, May 15 that investment bank Oppenheimer & Co. has signed on as a financial adviser to pull money together. Meanwhile, organizers say preparations continue. The anniversary event is scheduled Aug. 16-18 in Watkins Glen. Amplifi Live put up $49 million before clashing with organizers over attendance, budget and other issues. Amplifi announced April 29 it was canceling the festival and took back about $18 million. Organizers retorted the show was still on. They sued Amplifi. A judge ruled Wednesday, May 15 that Amplifi couldn't singlehandedly cancel the festival but didn't have to put the $18 million back in while the dispute goes to arbitration.
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