The Aye Write event will not go ahead this year after Creative Scotland turned down its bid for cash.
The festival is organised by Glasgow Life - the arms-length leisure body of Glasgow City Council.
Former first minister Nicola Sturgeon - who regularly attends the acclaimed event expressed her sadness.
She said: "Really bad news. I know money is tight but very much hope that a way is found to get Aye Write back on track."
A Creative Scotland spokesperson said: "We recognise the significance of Aye Write to audiences and the literature sector and understand that this is disappointing news. We are currently only able to support around 30 per cent of applications to our open fund due to limitations on the money available to us and difficult decisions need to be made on a daily basis." First Minister Humza.
Yousaf pledged to look at what "potential support" the Scottish Government could give to the "fantastic" festival.

Aye Write book festival axed after funding snub

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 8,500+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.