Woodstock 50 Canceled By Its Investors

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Jay-Z, performing at the Something in the Water festival in Virginia Beach, V.A. on Saturday. The rapper was one of the many artists that had been scheduled to perform at Woodstock 50.

The Dentsu Aegis Network, which had been funding the ambitious, three-day 50th anniversary music festival with headliners including Jay-Z and Santana, says that the August event will not happen.

(Image credit: Brian Ach/Getty Images for Something in the Water)