Woodstock 50 has been canceled.

The group funding the multi-genre festival in Watkins Glen, N.Y., made the announcement on Monday (April 29), saying in part: "We don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees."

Sturgill Simpson and Margo Price are two of the country artists who were slated to perform during the Aug. 16-18 event. Headliners were the Killers, Dead & Company and Jay-Z. Previously the Black Keys pulled out of an announced headlining slot for the return of Woodstock. The on sale date for tickets was also delayed, prompting speculation of a downfal.

Other artists set to play Woodstock with ties to country music included Brandi Carlile, Anderson East and Miley Cyrus. Nearly 100 artists were booked for the festival, which billed itself as "3 days of peace, love and music."

Two previous anniversary concerts took place, but both were in some ways disastrous, due to rain and mud. The original Woodstock in 1969 is remembered for being overrun by fans. Nearly a half million attended a concert built for just 50,000 people.

Dentsu Aegis Network’s Amplifi Live is the company that canceled the event. Billboard reports that concerns about site readiness, permitting and capacity were at play, and just last week the company reached out to both AEG and Live Nation seeking $20 million to save the event. Both production companies declined.

"As difficult as it is, we believe this is the most prudent decision for all parties involved," the cancelation statement reads.

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