Future of Sydney's V festival in doubt

The V Festival is in doubt after promoter Michael Coppel declined to renew a deal with Sir Richard Branson to stage the event.
While other established summer music fests including Big Day Out and Homebake have sold out upcoming events in record time, it is unlikely the hugely expensive Branson branding exercise will go ahead next March without a local concert heavyweight behind it.
In a statement Coppel said "for the past three years, the Virgin Group and Michael Coppel Presents have worked together to deliver the acclaimed V Festival to Australian audiences.
"The presentation of V Festival in 2009 concluded this arrangement and the partnership is not being renewed.
"The Virgin Group will make further announcements regarding V Festival in Australia in the coming months."
Coppel, who enjoyed phenomenal success with the Pink tour this year, has not left the business of staging all-day music events and is believed to be working on a festival for late 2010, according to Perth Now Music Editor Kathy McCabe.
He could reignite the Livid festival, last staged in Moore Park in 2003 with The White Stripes and Linkin Park.
V Festival, held in Centennial Park for the past three years, hosted a huge array of big-name acts, including the reunited Pixies, Duran Duran and The Killers.
Branson said a couple of years ago when he attended the Sydney event that, while it had lost money, he was committed to supporting the festival because of the "audience experience".
Last year's festival crowd experienced the apology of American rapper Vanilla Ice for his crimes against music.