Buzzfeed has finalized the sale of First We Feast, the production company behind the popular YouTube series "Hot Ones," to a consortium spearheaded by an affiliate of Soros Fund Management LLC. The deal, valued at $82.5 million, aims to alleviate Buzzfeed's debt and fuel its strategic shift towards AI-driven media.
Buzzfeed CEO Jonah Peretti emphasized the company's commitment to investing in scalable, tech-enabled services and AI-powered interactive experiences. He views the sale as a crucial step in this transformation.
"Hot Ones" is expected to continue its run under the new ownership. (Photo by J. Countess/Getty Images)
First We Feast's flagship show, "Hot Ones," features host Sean Evans interviewing celebrities while they consume progressively spicier chicken wings. The show has garnered a massive following, with interviews often going viral. Notable guests have included Paul Mescal, Sabrina Carpenter, and Jimmy Fallon. A particularly popular episode featuring Gordon Ramsay boasts over 129 million views.
Interestingly, the Harris campaign previously attempted to secure a spot for Vice President Kamala Harris on the show, but their request was declined due to their unwillingness to engage in political discussions.
The Harris campaign's attempt to feature the Vice President on "Hot Ones" was ultimately unsuccessful. (Hyoung Chang / Contributor | Andrew Harnik / Staff)
The acquisition consortium also includes Mythical Entertainment and Crooked Media, the latter having received prior investment from Soros Fund Management in 2022. First We Feast's existing management team, including founder Chris Schonberger, is expected to remain in place.
Schonberger expressed enthusiasm about the future, highlighting plans to expand into new platforms, live events, and talent acquisition. He envisions First We Feast becoming a premier destination for pop-culture enthusiasts.
Host Sean Evans also shared his optimism, expressing excitement about the show's future under new ownership.
Numerous celebrities have participated in viral segments on "Hot Ones." (FIRST WE FEAST)
