NEW YORK — Organizers of the Woodstock 50 festival are signalling 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. Amplifi Live put up $49 million before clashing with organizers over attendance, budget and other issues. Amplifi announced April 29 it was cancelling the festival and took back about $18 million. 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.

Source: National Post May 17, 2019 21:11 UTC