A post on the festival's official Twitter account read: "We're so sorry to announce that Reading and Leeds 2020 will no longer be taking place.
"Please read our full statement below. Keep safe and see you all next year."
The statement read: "We've been closely monitoring this unprecedented situation and were hopeful we could deliver the ultimate festival to you in August, something to look forward to in these strange and confusing times.
"However, it has become clear that it is just not possible for this year's festival to go ahead.
"We are working closely with our ticketing partners and they will be in touch very soon to process your refund or, if you prefer, you can retain your ticket and carry it over to next year.
"We're already counting down the days to when we're back in the fields we call home for the August bank holiday weekend.
"We promise you that Reading and Leeds 2021 will be worth the wait."
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