Buzzfeed sells brand behind ‘Hot Ones' to Soros Fund Management-led group
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Buzzfeed Inc is selling its brand First We Feast, known for the 'Hot Ones' talk show, to a group led by Soros Fund Management for $82.5 million. First We Feast will operate as a standalone company under founder Chris Schonberger.
December 12, 2024 | 6:45 pm
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Buzzfeed Inc is selling First We Feast, the brand behind 'Hot Ones', for $82.5 million. This divestiture could impact Buzzfeed's financials and strategic focus.
The sale of First We Feast for $82.5 million provides Buzzfeed with significant cash, which could improve its financial position. The divestiture allows Buzzfeed to focus on its core operations, potentially leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90