Dave Brooks is reporting for Billboard magazine organizers have canceled the Woodstock 50 event, according to a statement released early April 29. In that statement, Dentsu Aegis Network, the festival's funder, said, "...[D}espite our tremendous investment of time, effort and commitment, 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." The statement continues, "...[A]fter careful consideration, Dentsu Aegis Network’s Amplifi Live...has decided to cancel the festival. As difficult as it is, we believe this is the most prudent decision for all parties involved.” Headliners at the three-day event included The Killers, Dead and Co, Imagine Dragons and Jay-Z. Sources told Billboard that concerns about the festival's capacity, site readiness and permitting issues led to the cancellation of the commemorative event, which was scheduled to take place August 16 through 18. Read the full story at Billboard [dot] com.