Churchill Downs Inc. followed Richard Marx's lead and bailed on HullabaLOU, canceling its attempt at a music festival in 2011, just two months after announcing it would in fact return next year.

CDI also dissolved its entertainment division, Churchill Downs Entertainment, today according to a report in the Louisville Courier-Journal.

The article listed the high temperatures and poor economy as reasons for HullabaLOU's failure to make a profit for CDE. No mention was made of having a lineup that relied excessively on washed-up acts from the state fair circuit.

CDE also hosted underwhelming Fork, Cork & Style events at Churchill Downs and Arlington Park.

CDI did leave open the possibility of HullabaLOU returning once the economy picks up, something the closing of its entertainment division won't be helping: CDE President Steve Sexton has resigned and three other full-time employees will be losing their jobs.

Photo: Courtesy HullabaLOU