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WOODSTOCK UPDATE

While the latest legal decision means Woodstock 50 could happen (see story linked below), the hurdles are many, and very high. Much like the crowd at the original 1969 festival.

It would seem the artists' agencies have been paid their guarantees (totaling about $30m), so they would be obliged to appear should Woodstock actually take place—though oddsmakers aren't betting on that outcome. The remaining $18m withdrawn by former investor Dentsu Aegis was apparently intended for the other costs associated with putting on the fest. (Dentsu would be entitled to first dollar from any ticket sales going forward).

Danny Wimmer, retained by Woodstock's organizers to cut the deals with talent, did his job properly, insiders say, and his reputation will be undiminished by this episode.

Even if they manage to raise the requisite capital (via ticket sales or otherwise) and to resolve the many issues related to the venue, Michael Lang and team face a huge challenge trying to mount the festival in August. Could a more intimate version of the event be under consideration as they attempt to move forward? Did visions of another Fyre Festival cause the Dentsu folks to flee?

 

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