As a dedicated fan of Hot Ones, this news has sent waves of excitement coursing through me! The independence of First We Feast feels like the ultimate victory for a format that has consistently delivered engaging, hilarious, and spicy content. The consortium of investors, including the legendary Sean Evans himself, promises a future that’s fiery, flavorful, and full of surprises.
Hot Ones breaks free from Buzzfeed’s umbrella as they sell their First We Feast studio for a whopping $82.5 million USD. This renowned studio is famous for the widely popular YouTube series featuring celebrity interviews over hot sauce-infused chicken wings, hosted by Sean Evans.
The buying party behind First We Feast consists of various investors such as Chris Schonberger, the original founder of First We Feast, Sean Evans from Hot Ones, Mythical Entertainment (a media company founded by YouTube sensations Rhett and Link), podcast company Crooked Media, and Soros Fund Management. Additional investors will be disclosed at a future time. As reported by The New York Times, this transaction enables Buzzfeed to settle around $88.8 million USD of debt that was due this month, significantly reducing their total debt of approximately $124 million USD. This move places more cash assets than liabilities on Buzzfeed’s financial records.
Sean Evans is recognized for his high-profile interviews and frequently commended for the innovative approach he takes. As the spiciness of the chicken wings increases, personalities such as Sydney Sweeney, Billie Eilish, Paul Mescal, Rosé, and others have faced off against Evans in what can only be described as a heated interview setting. According to the New York Times, this transaction dismantles remnants of an agreement made three years prior to acquire Complex, a competitor that owned First We Feast and was renowned for its coverage of pop culture. This deal played a role in BuzzFeed’s initial public offering, but the company’s stock has since declined as investors became increasingly pessimistic about digital media. In 2023, Buzzfeed sold Complex for approximately $108.6 million USD following the closure of its news division earlier that year.
In a statement, Schronberger expressed that today’s announcement signifies a thrilling new phase in First We Feast’s timeline. Being part of this remarkable journey has been one of life’s greatest pleasures for him. With our proven track record in creating captivating formats, iconic intellectual properties, and top-tier interviews, we are exceptionally well-suited to capitalize on the brand’s progress and accelerate our growth even further.
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2024-12-13 13:26