Miley Cyrus, Jay Z and Halsey were among the headliners for the 50th-anniversary Woodstock concert. Credit: Getty Images
CNN  — 

The Woodstock 50 festival was supposed to be a chance for people to relive the magic of the legendary 1969 concert.

Now there are conflicting reports about whether the 50th-anniversary event, slated for August 16-18 in upstate New York, is still happening.

Woodstock 50 said in a statement Tuesday that Dentsu Aegis Network, a marketing firm that was financing the festival, decided to pull out. Dentsu executives informed festival organizers Monday that they were canceling the three-day event at the same time the company released a public statement.

“Despite 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,” Dentsu said in a statement to Billboard.

But Woodstock 50 promoter Michael Lang said the marketing firm’s actions were “undermining” festival organizers.

“It is one thing to decide for oneself that it is best to move on, but it is entirely another thing to try and close the door on us,” he said.

Lang said Dentsu executives can’t unilaterally cancel the festival.

“Woodstock never belonged to Dentsu, so they don’t have a right to cancel it,” he said.

Tim O’Hearn, administrator of Schuyler County, New York, where the festival was slated to take place, told reporters Monday, “I have been notified that the event is canceled at this point.”

CNN has reached out to the Dentsu Aegis Network but is still awaiting a response. O’Hearn, the county administrator, also did not immediately respond to a request for comment.

Tickets for Woodstock 50 were set to go on sale on April 22, but the event website now says that they’ll be available “soon.”

The original Woodstock festival drew hundreds of thousands of people to New York’s Catskill Mountains for “three days of peace and music,” inspired by the civil rights, women’s rights and anti-war movements.

Jay-Z, Miley Cyrus, Imagine Dragons, Halsey, the Black Keys, Chance the Rapper and The Killers were slated to headline the new event. Some artists who played at the original Woodstock, like Santana, David Crosby and Creedence Clearwater Revival’s John Fogerty, were also scheduled to perform.

The confusion over whether or not the show will go on is starting to feel like another festival that didn’t quite have things together. Does Fyre Festival ring a bell?

CNN’s Lisa Respers France contributed to this report.