The event, which was due to start tonight on Heslaker Farm near Skipton, North Yorkshire, has been abandoned thanks to the ever-reliable Great British Weather.
Ticket holders can expect to hear more later today, but are told not to go to the site. They are asked to hold on to their tickets for now, which doesn't rule out the possibilty of Beacons being rescheduled. But, you know, don't hold your breath.
This was the due to be the first ever Beacons Festival, with the likes of Frankie & The Hearstrings, Tom Vek, Jamie XX, Jamie Woon, Toddla T, Dutch Uncles, Willy Mason and Dananananaykroyd scheduled to play over the weekend.
Here's the statement from the organisers in full:
"It is with sincere regret that the organisers of Beacons Festival 2011, due to be staged at Heslaker Farm, Skipton, have had to announce its cancellation.
Due to severe adverse weather, the event site is no longer considered to be safe for a public audience in the opinion of the authorities.
The Beacons team would like to thank all ticket holders for their patience in these unfortunate circumstances.
Please do not come to the site, further announcements will be made later today. Please hold on to all tickets and receipts for the time being."