Woodstock 50 canceled, festival funder says. Festival itself says otherwise.

Woodstock 50, which was to celebrate the anniversary of one of the greatest concerts of all-time, has been canceled, one of the main funders of the festival told ABC News.

But even so, the festival itself is denying the reports and saying the show will go on.

The show was set for August 16, 17 and 18 and planned to feature the likes of Jay-Z, Miley Cyrus, Halsey and many more.

In an official statement to ABC News, one of the funders of the show, Dentsu Aegis Network, wrote, "It’s a dream for agencies to work with iconic brands and to be associated with meaningful movements."

Dentsu's Amplifi division of the company has invested in the anniversary festival and is the media investment and innovation arm of Dentsu Aegis Network.

"We have a strong history of producing experiences that bring people together around common interests and causes which is why we chose to be a part of the Woodstock 50th Anniversary Festival," the statement from Dentsu continues. "But 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."

"As difficult as it is, we believe this is the most prudent decision for all parties involved," the statement closes.

But a representative for Woodstock 50 itself told USA Today and Gannett affiliate, the Poughkeepsie Journal, "Woodstock 50 vehemently denies the festival's cancellation and legal remedy will (be) sought."

A request for further comment from Woodstock 50 was not immediately returned to ABC News.

According to the official website, tickets have not gone on sale yet for the three-day event in Watkins Glen, New York. Last week, The Associated Press reported ticket sales had gone on hold.

"Woodstock 50 has delayed its on sale while we refine logistical plans," a statement to the AP said.