BuzzFeed has sold its popular Internet talk show “Hot Ones” to a consortium that includes a fund controlled by host Sean Evans and George Soros, according to a press release Thursday.
BuzzFeed Inc. has replaced First We Feast, the production company that owned “Hot Ones,” with the show's creator Chris Schoenberger, Evans & Soros Fund Management, and According to Go to press release.
Business Insider (BI) previously reported that BuzzFeed was saddled with more than $120 million in debt. reported. Using profits from the First We Feast spinoff (approximately $82.5 million), plus its own cash, BuzzFeed paid down $90 million in debt. According to To BI.
The news organization, once a giant in the digital news space, ceased reporting in 2023 but still owns the left-leaning news organization Huffington Post.
The sale of First We Feast marks the separation from yet another of BuzzFeed's most prominent assets.
First We Feast now sees itself as an independent outlet, with “Hot Ones” host and star Shaun Evans becoming an investor as part of the company's new structure, according to a release. That's what it means.
“Hot Ones” is one of the most popular shows on the internet, with its videos consistently racking up millions of views. The show is an interview format in which host Sean Evans asks deep and insightful questions to celebrity guests who are struggling to eat increasingly spicy chicken wings.
The show's guest roster includes a who's who of celebrity megastars, including David Beckham, Kevin Hart, Rob Gronkowski, Travis Kelce, Gordon Ramsey, and more.
For Soros, the acquisition is the latest in the Democratic megadonor's growing media arsenal. In 2022, the Hungarian-born billionaire acquired a minority stake in Crooked Media, a podcast production company founded by former Obama staffers that produces the popular left-wing podcast Pod Save America.
Crooked Media is also part of the investment group acquiring First We Feast, according to a press release.
Mr. Soros also bought a controlling stake in Audacity, the second-largest U.S. radio company, after it filed for bankruptcy in January.
