BuzzFeed Announces Sale of “Hot Ones” Producers First We Feast to George Soros-Funded Affiliate
BuzzFeed, a popular digital media company, has announced that it has sold First We Feast, the parent company behind the popular YouTube show “Hot Ones”, to a consortium led by an affiliate of Soros Fund Management LLC for $82.5 million. The sale is part of the company’s efforts to sell its assets and pay down debt.
First We Feast is known for producing “Hot Ones”, a long-running YouTube talk show hosted by Sean Evans, in which he interviews celebrities while they eat increasingly spicy chicken wings. The show has gained a massive following, with over 129 million views on its most-watched episode.
According to the company, “Hot Ones” is expected to continue after the sale. Evans has expressed his excitement about the future of the show, saying, “I’m excited to continue hosting ‘the show with hot questions, and even hotter wings’ for years to come.”
The sale also includes other buyers, including Mythical Entertainment and Crooked Media, which was founded by former Obama staffers and received an investment from Soros Fund Management in 2022. First We Feast will keep its management team, including its founder Chris Schonberger, who is optimistic about the company’s future. “What began as a humble food blog has evolved into a powerhouse multi-platform brand,” he said.
The sale is seen as a significant milestone in BuzzFeed’s transformation into a media company focused on creating AI-powered interactive experiences. The company’s CEO, Jonah Peretti, said, “The sale of First We Feast and reduction of our convertible debt marks an important step in our strategic transformation.”