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BuzzFeed Sells Brand Behind ‘Hot Ones’ to Soros Fund Affiliate For $82.5 Million
The consortium of investors includes Crooked Media and host Sean Evans
BuzzFeed, the struggling digital media company, is selling assets to pay down debt.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
BuzzFeed Inc. has sold First We Feast, its food-centered brand behind the popular YouTube interview show Hot Ones, to a group of investors for $82.5 million, ending a months-long search and raising cash to pay down debt.
The buyers include an affiliate of Soros Fund Management, progressive podcast company Crooked Media and Mythical Entertainment, the media company founded by the YouTube creators known as Rhett and Link, according to a statement Thursday.