Reports are circulating this morning that the promoters Totem OneLove and SFX Entertainment have permanently canned the controversial electronic dance music festival, which is held annually across Australia's five capital cities.

In recent times, Stereosonic has been hit with negative press after the deaths of two festivalgoers due to drug overdoses. At last year's Sydney event, 25 year old Sylvia Choi lost her life, while just a week later, 19 year old Stefan Woodward suffered a fatal heart attack at the Adelaide leg of the tour. The two deaths cap off a number of overdoses and arrests that were linked to the festival.

No official statement from the promoters has been made - yet.

Stereosonic has apparently been cancelled for good