There might be greater possibility that CBGB will revive its legendary status as one of the cultural icons of New York City. Identified with punk rock bands back in its heyday, the venue has served its purpose as home to various bands like The Talking Heads, Ramones, Television, Blondie, Patti Smith and Sonic Youth to name a few.

Billy Krystal founded CBGB OMFUG – which stands for Country, Blue Grass and Blues and Other Music For Uplifting Gormandizers – in 1973. The Club was intended to serve the bands with similar musical style akin to its name, but then gradually became the mecca for American Punk and new wave. Then, in later years, the venue was widely known for its involvement with the Hardcore Punk bands such as Agnostic Front, Murphy’s Law, the Cro-Mags, Gorilla Biscuits, Sick of It All and Youth of Today. These bands became identical with the club’s presence, making it the part of their scene.

Ultimately, the club was closed down in October 2006, due to a dispute between CBGB and the Bowery residents committee. However, it was officially announced that a group of investors have purchased the remaining assets of CBGB, and commencing a plan of 3 days music festival starting from July 5th to 8th. In which they’ll be generating the net profits to fund the opening of new club, revitalizing its historical landmark with fresh perspective.

For more details and info on the festival, head down to www.cbgb.com/