Big Day Out has been cancelled in all venues in Australia and New Zealand. U.S. company C3 Presents, which owns the festival, has confirmed that it will not be back in 2015, but hopes to bring it back soon.

According to Fairfax Media, the travelling music fest is now believed to be entirely American-own after Australian promoter AJ Maddah sold his share to C3 Presents.

Documents submitted to the Australian Securities and Investment Commission earlier in June show that Maddah transferred his entire BDO shares to the Austin, Texas company.

“While we intend to bring back the festival in future years, we can confirm there will not be a Big Day Out in 2015,” the C3’s statement, given to Fairfax, reads.

The publication also talked to BDO’s Sydney and Melbourne venues, which both confirmed that the organisers have cancelled the bookings.

“It’s very disappointing for the fans and for us because it’s an iconic event. It was the first rock ‘n roll event I went to and the first we held. I was there for 20 years at Paddington and we’ve been with it here ever since,” Peter Thorpe, general manager of the Sydney Showground, said.

In a recent interview with the Full Metal Lockdown podcast, Maddah didn’t appear to be optimistic about BDO’s future.

“It will probably [return in one form or another, but it won’t be this year,” he said. “This year is already half done. It was an amazing event and without wanting to blow sunshine up my own arse, it’s probably the best festival I’ve ever been to in terms of vibe and everything that was going on. Obviously, I’d love to see it back, but definitely not this year.”

Big Day Out debuted in 1992, and has been held annually since. It was cancelled in New Zealand in 2013, but returned for 2014 at a new venue at the Western Springs Stadium in Auckland.