MADISON, Wis. -- Madison's only Fourth of July fireworks tradition will continue after all.

The Elver Park fireworks will go on as schedule, but with a different sponsor. The announcement was made at a news conference on Wednesday afternoon, WISC-TV reported.

The annual event had been held for more than 20 years at the West Side park, but last week, the main sponsor, Clear Channel Radio-Madison, said it was pulling the plug on this year's event.

Clear Channel took over the program three years ago when financial struggles threatened to end its run.

In a surprising turn, however, Clear Channel's main radio competitor in the Madison area -- Midwest Family Broadcasting and its local station WWQM Radio (Q106) -- says they, along with the city's help, will finance this year's display, WISC-TV reported.

Thousands of people turn out every year for the fireworks show. The display is visible for the city's southwest side.

Stay tuned to WISC-TV and Channel 3000 for continuing coverage.