Just weeks after its announcement, organisers have pulled the plug on the iHeartRadio Music Festival Australia .

The one-off pop festival was set to take place on Saturday October 18 at Sydney¡¯s Allphones Arena, and was supposed to feature the likes of Miley Cyrus and party rocker Redfoo. However, festival organisers decided to cancel the event after they were unable to secure a third headline act.

Other acts on the bill included Adelaide pop-rock trio At Sunset, Ghanaian-born, hip-hop artist Miracle, local DJ duo The Faders and Australia¡¯s answer to Justin Bieber, Cody Simpson.

The Australian Radio Network teamed up with promoters Dainty Group to bring the festival to Aussie shores. Following their decision to pull the plug on the event, Dainty Group released the following statement: ¡°Our objective for this first iHeartRadio Australia Music Festival was to create the very best experience possible for music lovers, and when this wasn¡¯t possible, the difficult but the necessary decision was made to cancel.¡± ¡°This is a consequence of the unavailability of another headline act, due to be announced this week.¡±

Dainty Group went on to say that customers who purchased tickets using a credit card, Visa or MasterCard debit card will be automatically refunded. Those who bought their tickets with cash or eftpos, however, will need to post their tickets back to Ticketek, with an attached note requesting reimbursement. The organisers also wrote that it might take up to 14 working days for the refund to appear in patron¡¯s account.

The iHeartRadio Festival originally ran as a two-day festival in Las Vegas, featuring big names such as Drake, Kesha, Thirty Seconds To Mars and Green Day. The 2014 lineup also included the likes of Coldplay, Lorde, One Direction, Iggy Azalea and M?tley Cr¨¹e. This year¡¯s Australian leg of the festival was instead supposed to take place for one day over six hours.

A spokesperson said that, despite the cancellation, the iHeartRadio Festival is not completely ruled out and will be revisited in the future.