×

Woodstock 50 Brings On Oppenheimer & Co. as New Financial Partner

UPDATED: Has the cavalry arrived for Woodstock 50? A new financial partner, Oppenheimer & Co., has come on board, although the exact capacity in which they’re involved isn’t entirely clear from the announcement, which describes the company’s involvement as a “financial advisor to complete the financing for the festival.” A source clarified (somewhat) that the festival has secured financing through Oppenheimer, although it was unclear how much money is involved.

The announcement follows by two days a court declaration that Woodstock 50’s former financiers, Dentsu, had no right to cancel the festival, as they’d attempted to.

“We are thrilled to be onboard for this incredible weekend of music and social engagement,” said John Tonelli, Oppenhimer’s head of debt capital markets & syndication, in a statement. “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.”

The fate of the three-day gathering scheduled for Aug 16-18 has seemed up in the air for weeks, or months, as a deep rift between Woodstock 50 and Dentsu led to the breaking point of the latter company’s attempted cancellation. The same court ruling that said the financiers had no right to cancel the gathering also stated that they didn’t have to give back the $17.8 million investment they’d pulled out of a joint bank account. If the financial crisis has abated with Oppenheimer’s entry into the story, permitting and ticket-pricing issues have yet to be resolved.

Nonetheless, it was the promising development Woodstock 50 needed to keep hope alive. And, of course, there’s no “if” about it for co-founder Michael Lang, who waxed ebullient over this latest development. “We’ve lined up artists who won’t just entertain, but will remind the world that music has the power to bring people together, to heal, to move us to action and to tell the stories of a generation,” Lang said in a statement. “We look forward to putting on an incredible festival. Words cannot express how appreciative Woodstock 50, the artists, the fans and the community are to Oppenheimer for joining with us to make W50 a reality.”

The announcement of Oppenheimer’s involvement included a promise that tickets will go on sale shortly.

More Music

  • DJ D- Nice'The New Edition Story'

    How DJ D-Nice's Club Quarantine Became an Isolation Sensation

    DJ D-Nice’s Instagram Live virtual dance parties have been the sensation of isolation, drawing upwards of 150,000 viewers — among them, both Democratic candidates, Joe Biden and Bernie Sanders, former first lady Michelle Obama, Drake, Oprah Winfrey, Will Smith and even Facebook CEO Mark Zuckerberg — and helping relieve anxiety during this time of stress [...]

  • Cardi B Joe Exotic

    Cardi B Pledges to Start a GoFundMe for Joe Exotic From Netflix's 'Tiger King'

    Cardi B, like most people in the world, is hooked on Netflix’s “Tiger King.” Over the past couple of days, Cardi has been tweeting about the new docu-series, which follows the bizarre story of Joe Exotic, a private zoo owner with hundreds of exotic animals who ends up in jail for hiring a hitman to [...]

  • Sie7etr3: Dglo73, Djyeiiro73 (kneeling), Fetti031, Youngkilla73,

    Latin Label Sie7etr3 Partners With Caroline for Distribution

    Caroline and Latin label Sie7etr3 have entered into a worldwide distribution pact. Sie7etr3 The Label (known as Siete Tres or 73) is home to Chucky73, Fetti031, Youngkilla73 and Dglo73. “Dili” by Chucky73 and Fetti031, which dropped January 17, is the Bronx-based label’s first release under the new partnership. Future releases and label services will be [...]

  • Brad "Scarface" Jordan, Michele Lemon. In

    Rapper Scarface on Living With Coronavirus: 'I'm Scared to Death'

    Rapper Scarface gave an emotional account of his time in isolation since testing positive for the coronavirus. Scarface, whose real name is Brad Jordan, was interviewed by Atlanta rapper Ludacris on Instagram Live on March 27. Some three thousand people tuned in for the 20-minute chat. “I’m scared to death,” said Scarface, who on Thursday [...]

  • Dua Lipa album cover Future Nostalgia

    Dua Lipa's 'Future Nostalgia': Album Review

    Is it wrong, right now, to be as happy as Dua Lipa’s second album makes you? Is this any time to celebrate pop music at its most ebullient, when we should be bullish on meditation? Shouldn’t we be focusing our attention on weightier matters than how to all guiltlessly throw ourselves a solo disco party? [...]

  • Future Man Season 3 Trailer

    TV News Roundup: Hulu Releases 'Future Man' Final Season Trailer (Watch)

    In today’s TV News Roundup, Hulu released a trailer for the third and final season of “Future Man,” and Fox and iHeartRadio’s upcoming concert special added Camila Cabello, Dave Grohl, H.E.R. and Sam Smith to its lineup. FIRST LOOKS Hulu has released a trailer for the third and final season of “Future Man.” As the [...]

More From Our Brands

Access exclusive content