Less than a week after maverick promoter AJ Maddah told Fairfax Media his Harvest music festival was in jeopardy, he has exclusively confirmed its cancellation.

Now rumours have emerged that Maddah may have acquired a share of Australia's longest-running touring music festival, the Big Day Out.

Cancelled: Harvest Music Festival had in previous years been held at Parramatta, and was scheduled to be moved to the Domain. Credit:Edwina Pickles

If true it would be a major coup for the promoter who already runs Australia's biggest-selling festival, Soundwave, and was named the most powerful person in the local music scene in August by the Australian Music Industry Directory.

The BDO's former co-promoter Vivian Lees appeared on Triple J's Hack program on Monday afternoon and announced his former BDO partner Ken West had sold his share to Maddah.