Chang Weisberg, the Rock The Bells founder and owner of the festival's production company Guerilla Union, spoke yesterday to about the festival's cancellation in both Washington, D.C. and New York. The company released an official statement yesterday saying that the cancellations had to do with poor ticket sales, with a source telling XXL that the company stood to take a $3 million hit.

"You look at the lineup and it just doesn’t make sense," Weisberg told the site. "I’m at a loss for words, really. I feel like I’ve let down so many people. The artists have been awesome and so supportive, but I’m crushed."

The fest had had its share of PR and technical issues leading up to and during its first two shows in Los Angeles and San Francisco, with initial pushback regarding the Eazy-E and Ol' Dirty Bastard holograms that would be a part of Bone Thugs-N-Harmony's and Wu-Tang Clan's sets, respectively, and more drama after Method Man walked off the stage in L.A. following serious sound issues during the Wu's performance.

“There are a lot of high profile hip-hop tours on the road right now, so maybe the market’s saturated,” he continued. “For hip-hop, this is the busiest season I’ve ever seen. I wish everybody well.”