After much overnight speculation that Stereosonic was shutting up shop, organisers have now issued an official statement confirming the festival is cancelled for 2016.

“Totem Onelove Group is currently working on bringing Stereosonic fans the best festival experience possible. As part of this, we are taking a hiatus during 2016. However, we will return in 2017, bigger and better,” they wrote.

As Tone Deaf wrote yesterday, a report by The Daily Telegraph claims Stereosonic organisers Totem Onelove and SFX Entertainment will no longer be proceeding with the event following two drug-related deaths and dozens of overdoses last year.

Meanwhile, Tone Deaf reported this morning that SFX’s Melbourne office has been up for lease on commercial property website since March. Images accompanying the listing show posters for Stereosonic and Creamfields throughout the space.

Stereosonic was held over two weekends last year, with 25-year-old pharmacist Sylvia Choi and 19-year-old Stefan Woodward dying from suspected drug overdoses one week apart at the Sydney and Adelaide events, respectively.

Meanwhile, SFX Entertainment have been suffering well-publicised financial difficulties for some time now. As Tone Deaf reported back in February, SFX filed for Chapter 11 proceedings after months of financial hardship.

In a statement, Totem Onelove distanced themselves from SFX Entertainment, insisting its bankruptcy proceedings were confined to the US and would not affect Totem Onelove nor their flagship festival.

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