Billy McFarland Says He's Selling Trademarks, Branding of FYRE Festival

Billy McFarland has decided to sell FYRE Festival, citing frustration over the event's struggles and his own personal obligations from prison, as he hands fans an update on a new chapter for the franchise. The founder revealed in a statement that he and his team have sold the brand's trademarks, intellectual property, and media reach to a new operator who will execute his vision for a second iteration of FYRE. Meanwhile, multiple countries are expressing interest in hosting the event, though McFarland has requested privacy as he works to transition away from FYRE under his new leadership.