The first iHeartRadio Australia Music Festival, set for October 18, has been cancelled by its organizers, The Sydney Morning Herald reports.

The all-day fest, which was supposed to feature Miley Cyrus as a headliner, has been canned because organizers were not able to secure the appearance of another headlining act. It has not mentioned who the artist is.

 "This is a consequence of the unavailability of another headline act, who was due to be announced this week," said a statement by Australian Radio Network, which partnered with concert promoter Dainty Group to mount the festival.

"Our objective for this first iHeartRadio Australia Music Festival was to create the very best experience possible for music loves, and when this wasn't possible, the difficult but the necessary decision was made to cancel," the organizers told Australia's radioinfo.

The event was scheduled to be held at Sydney's 20,000-plus capacity Allphones Arena, says a report by Billboard.

Other confirmed performers at the festival included X-Factor Australia judge and LMFAO member Redfoo, Gold Coast, Australia pop star Cody Simpson, South Australia pop rock group At Sunset, Sydney-based rapper Miracle, and DJ duo The Faders.

Tickets to the event started selling on Thursday. Fans who have purchased their tickets will be entitled to refund.

Holding an iHeartRadio concert in Australia has not been nixed altogether by the organizers, according to a spokesperson. Furthermore, they will explore the possibility of holding the concert at a later stage, she said.

iHeartRadio launched Down Under, its Australian and New Zealand brand, in late 2013. It is the internet radio service's first expansion outside out the US, and for which it partnered with Australian Radio Network

The brand has since hosted concerts by Australian singer Kylie Minogue and British singer and songwriter Ed Sheeran.

Meanwhile, Dainty Group, which is also producing Miley Cyrus's Bangerz tour, said it remains committed to the pop star's concerts, according to Billboard.