(hennemusic) Woodstock organizers have secured a new financial partner for the planned 50th anniversary festival this summer in Watkins Glen, NY. Rolling Stone reports New York-based investment bank Oppenheimer & Co. have agreed to provide new financing for the event following its split with original investors Dentsu Aegis that wound up in the states' Supreme Court last week.
"We are thrilled to be onboard for this incredible weekend of music and social engagement," says John Tonelli, head of Debt Capital Markets & Syndication at Oppenheimer & Co. "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."
"We look forward to putting on an incredible festival," adds promoter Michael Lang. "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."
With the mid-August event about three months away, reports indicate organizers still have to secure permits necessary for the concert before putting tickets on sale to the public. Read more here.
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