Update 8:40 P.M.: Despite its rejection in Queens, it looks like the company behind California's popular Coachella Valley Music and Arts Festival will be coming to New York City after all. According to a report from Billboard, Goldenvoice (owned by AEG) will be launching its Panorama festival on NYC's Randall's Island from July 22-24 of this year. It is billing the event as "three days of music, art, technology, and local food offerings." Mark Shulman, the festival producer for Goldenvoice, said in a statement "We look forward to bringing Panorama to New York City and introducing a new festival that showcases today's top music acts. We're committed to creating an event that will provide significant benefits to New York City with the level of experience and meticulous attention to detail for which Goldenvoice is known."

This news comes after the organizers of NYC's other major music festival Governor's Ball launched a petition to reject Panorama, which they feared would negatively affect their ticket sales. Not only has the festival been moved from its original location, but it was also pushed back to seven weeks after Gov. Ball rather than the original two weeks. Although it will be held on Randall's Island this year, organizers hope to move it to its intended location in Queens in the future.

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According to a report by the New York Daily News, the New York City Parks Department has rejected the permit application for an East Coast version of the Coachella Valley Music and Arts Festival in Queens' Flushing Meadows-Corona Park. The rejection of the permit, filed by Coachella's parent company AEG, all but extinguishes any hope of the popular music festival making an appearance in NYC this year.

Tentatively titled "Panorama," the music festival was planned for two weeks after NYC's other major festival Governor's Ball. During it's original announcement, Founders Entertainment partner Tom Russell (a major Gov. Ball organizer) had this to say: "The timing of this corporate-run festival would threaten our ability as a small business to continue putting on the kind of event that has showcased the best artists, created hundreds of local jobs and put millions of dollars back into the city’s economy." With Panorama's permits rejected, it looks like the Gov. Ball organizers can breath a little easier, at least for this year.