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Woodstock 50 festival: Investment bank is lining up money

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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 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, New York.

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.

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A judge ruled Wednesday 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.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

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