It's been fifty years since the original Woodstock festival took place in upstate New York in 1969, and a festival marking the anniversary was due to take place later this month.

However, 'Woodstock 50', as it was being called, has now been cancelled by organisers.

The news doesn't come as any huge surprise to those who have followed details of the festival over the last few months, as it has been plagued by difficulties and setbacks.

Two proposed festival sites were rejected for the August 16th - 18th and financing had fallen through as far back as April. The festival's location was later moved to the Merriweather Post Pavilion in Maryland, but it seems that its problems ran deeper than the location.

In recent days, headliners Jay-Z, John Fogerty and Miley Cyrus cut their losses and pulled out.

Organisers released a statement that read: "Woodstock 50 today announced that the three-day festival to celebrate its 50th anniversary has been cancelled.

"We are saddened that a series of unforeseen setbacks has made it impossible to put on the festival we imagined with the great lineup we had booked and the social engagement we were anticipating."

None of the acts booked to play have made an official statement.