Buzzfeed announced that it officially sold the company behind the "Hot Ones" YouTube show to a George Soros-funded affiliate.
In a press release on Thursday, Buzzfeed revealed it closed the sale of the First We Feast media company to a consortium led by an affiliate of Soros Fund Management LLC for $82.5 million. The sale concludes months of efforts to sell the company and pay down millions in debt.
"The sale of First We Feast and continued reduction of our convertible debt marks an important step in BuzzFeed, Inc.’s strategic transformation into a media company positioned to fully benefit from the ongoing AI revolution," BuzzFeed founder and CEO Jonah Peretti said.
He continued, "In the coming years, we will continue to invest in our most scalable and tech-enabled services, launching new AI-powered interactive experiences, and delivering for our loyal audience and business partners."
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First We Feast is most famously known for producing "Hot Ones," a long-running YouTube talk show where host Sean Evans asks celebrities interview questions in between eating rounds of increasingly spicy chicken wings.
Past guests have included "Gladiator II" star Paul Mescal, pop star Sabrina Carpenter and late-night TV host Jimmy Fallon. The interviews routinely go viral. Evans' interview with celebrity chef Gordon Ramsay currently has over 129 million views.
Harris campaign officials also admitted in November that they attempted to get Vice President Kamala Harris to appear on the show, only to be rejected because they were unwilling to get political.
Other buyers in the deal include Mythical Entertainment and Crooked Media, the latter of which was founded by former Obama staffers and received an investment from Soros Fund Management in 2022.
First We Feast is expected to keep its management team including founder Chris Schonberger.
"What began as a humble food blog has evolved into a powerhouse multi-platform brand," Schonberger said. "With new investment, we’re poised to expand into exciting new areas — including new platforms, live events, and talent acquisition — cementing First We Feast as the ultimate destination for pop-culture-obsessed audiences."
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"Hot Ones" is expected to continue with Evans optimistic about the future.
"I’m excited to continue hosting ‘the show with hot questions, and even hotter wings’ for years to come," Evans said. "The future is spicy, and I can’t wait to see what’s next."
