Hot Ones is taking the leap into independence. Buzzfeed has confirmed the sale of its First We Feast studio, the powerhouse behind the wildly popular Hot Ones celebrity interview series, for $82.5 million USD. The deal sees First We Feast returning to its roots under the leadership of founder Chris Schonberger and host Sean Evans, with backing from a consortium of investors.
The investor group includes Mythical Entertainment—run by YouTube icons Rhett and Link—along with podcast company Crooked Media and Soros Fund Management. According to reports, additional partners will be revealed in the future. The acquisition also provides Buzzfeed a much-needed financial lifeline, allowing the media company to significantly reduce its debt load. Proceeds from this sale, combined with other operational funding, will cut Buzzfeed’s $124 million USD debt by $88.8 million USD, leaving the company with more cash than liabilities.
For fans of Hot Ones, this marks the beginning of an exciting new era. Hosted by Sean Evans, the show has become a pop-culture phenomenon, praised for its unique format of interviewing celebrities while they tackle progressively spicier chicken wings. Big names such as Sydney Sweeney, Billie Eilish, Paul Mescal, and Rosé have braved the heat, earning the series a dedicated following.
This sale also represents Buzzfeed’s continued restructuring following its acquisition of Complex Networks three years ago. While the $300 million USD deal initially helped Buzzfeed go public, declining investor confidence in digital media led to a significant drop in stock value. Earlier this year, Buzzfeed offloaded Complex for $108.6 million USD and shut down its news division in 2023.
Chris Schonberger, reflecting on the milestone, stated:
“Today’s announcement marks an exciting new chapter in First We Feast’s history. Being part of this incredible journey has been one of the greatest joys of my life. Our proven expertise in developing compelling formats, iconic IP, and best-in-class interviews makes us uniquely positioned to build on the brand’s momentum and supercharge our growth.”
With fresh investments, First We Feast plans to explore new platforms, expand into live events, and acquire talent. Its independence officially begins on December 19 with the launch of the Annual Hot Ones Holiday Extravaganza. Fans can also look forward to Season 26, set to premiere on January 23, 2025, featuring new celebrity guests and surprises to commemorate the show’s 10th anniversary.
The move positions First We Feast as a standalone entertainment powerhouse, ready to push boundaries in digital and live content while continuing to deliver the heat.
