BuzzFeed Sells Hot Ones for $82.5 Million to Address Debt

In a significant move to address its financial obligations, BuzzFeed has sold the company behind the popular web series “Hot Ones” for $82.5 million. This sale is part of BuzzFeed’s efforts to pay off its debt and stabilize its financial position.

“Hot Ones,” which is produced by First We Feast, has gained a substantial following since its inception. The show features celebrities and public figures eating increasingly spicy chicken wings while answering questions, often leading to humorous and revealing conversations.

The sale of “Hot Ones” highlights the value of niche content creators in the digital media landscape. First We Feast, known for its diverse range of food and culture shows, has managed to build a loyal audience and significant brand recognition through “Hot Ones” and other programs like “Pizza Wars,” “Hungry For More,” and “The Burger Show.”

This transaction underscores the challenges faced by digital media companies in maintaining profitability and managing debt. BuzzFeed’s decision to sell “Hot Ones” is a strategic move aimed at ensuring the company’s long-term viability.