Supafest Promoters Split

The troubled Supafest in Australia has lost one of its two promoters, with John Denison revealing he sold his 39 percent share in Paperchase Touring to a Canadian registered company called Step Above Productions.

Supafest established itself as one of the biggest urban festivals in the world, drawing 90,000 over four cities with artists including Snoop Dogg, Nelly, Bow Wow and Timbaland.

This April, it ran into financial problems when a plan to expand the festival turned sour. Headliners P Diddy, Missy Elliott and Rick Ross were either axed for budgetary reasons or refused to come, depending on whom you spoke to.

Co-promoter Dwayne Cross is currently in the U.S. negotiating fresh funding.