BuzzFeed has sold First We Feast, the production company behind the popular YouTube series “Hot Ones,” for $82.5 million in cash. The acquisition was led by an affiliate of Soros Fund Management and includes investors such as “Hot Ones” host Sean Evans, First We Feast founder Chris Schonberger, Crooked Media, and Mythical Entertainment. 
Following the sale, First We Feast will operate as an independent company. Chris Schonberger will assume the role of CEO, while Sean Evans will continue hosting “Hot Ones” and take on the newly created position of Chief Creative Officer. This transition aims to expand First We Feast’s ventures into new platforms, live events, and talent acquisitions. 
BuzzFeed’s decision to sell First We Feast aligns with its strategy to focus on more profitable revenue streams, such as programmatic advertising and affiliate commerce. The company has been addressing financial challenges, including a significant debt load, and plans to use proceeds from the sale to strengthen its financial position. 
“Hot Ones,” launched in 2015, has become a cultural phenomenon by featuring celebrity interviews where guests answer questions while eating increasingly spicy chicken wings. The show has attracted a wide array of celebrities and has expanded into spin-offs and product lines, including its own brand of hot sauces. 
The 10th-anniversary celebrations for “Hot Ones” will commence with the “Annual Hot Ones Holiday Extravaganza” on December 19, 2024, followed by the premiere of a new season on January 26, 2025. 
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