BuzzFeed Sells 'Hot Ones' Studio First We Feast for $82.5 Million

The deal helps BuzzFeed significantly reduce its debt while First We Feast becomes an independent company under new ownership, including its host Sean Evans.

BuzzFeed sold First We Feast, the studio behind the hit YouTube show 'Hot Ones,' for $82.5 million in an all-cash deal to a group of investors, including Soros Fund Management, Crooked Media, Mythical Entertainment, and creators Sean Evans and Chris Schonberger.
The sale reduces BuzzFeed's debt from $124 million to $30 million, allowing the company to focus on high-margin, AI-driven initiatives such as programmatic advertising and affiliate commerce.
First We Feast will operate independently, with Schonberger as CEO and Evans as Chief Creative Officer, continuing to produce 'Hot Ones' and expanding into live events, new platforms, and talent acquisition.
'Hot Ones,' known for its celebrity interviews paired with increasingly spicy chicken wings, has over 14 million YouTube subscribers, 4 billion views, and a decade-long track record of viral success.
BuzzFeed's sale marks a strategic shift as the company moves away from lower-margin properties, while First We Feast prepares for its 10th anniversary and new ventures in 2025.