Richard Branson made the announcement about V, writing on Virgin’s website that the 2017 event was the company’s last.
However, all is not lost for fans who enjoy the annual two-venue event, as Music Week reports that promoter Festival Republic has taken over, with big plans for what’s next.
Their Managing Director, Melvin Benn, told the publication: “It will very much continue to have a pop and dance focus.
Meanwhile, Bestival has announced a huge change to their schedule, revealing that it will no longer occupy its usual spot as the last festival of the summer.
Instead, Bestival 2018 will take place on Thursday 2 to Sunday 5 August and a press release from organisers Sunday Best explains that the move comes following “festival-goers’ feedback”.
Rob Da Bank has also revealed that the theme next year will be 250 Years Of Circus.
“Yes fellow Bestivalites it’s time to run away and join the Circus, Bestival style!” he said. “Bearded freaks, insane acrobats, high wire daredevils, mutant jugglers and an out of control ringmaster all eager for you to join the most colourful show on earth await!
“And what makes this show even more unmissable is we have moved into peak season August style and will be open a month earlier than usual... so what are you waiting for?”
Meanwhile, Glastonbury regulars are searching for an alternative - or perhaps planning a well-earned weekend off? - as Michael Eavis’s Worthy Farm enjoys a festival-free summer, with a fallow year taking place.
More information on the future of V Festival will be announced in due course. Find out more about Bestival 2018 here.