BuzzFeed Inc. has sold First We Feast, its food-centered brand behind the popular YouTube interview show Hot Ones, to a group of investors for $82.5 million, ending a months-long search and raising cash to pay down debt.

BuzzFeed is selling First We Feast, the studio behind 'Hot Ones,' for $82.5 million to investors including Soros Fund Management and Sean Evans.

BuzzFeed said on Thursday it has sold First We Feast, creator of YouTube's popular talk show 'Hot Ones', to a group led by Soros Fund Management affiliate for $82.5 million, as the struggling media company faces a cash crunch.

BuzzFeed, Inc. (Nasdaq: BZFD) (the "Company") today announced the closing of its sale of First We Feast to a consortium led by an affiliate of Soros Fund Management LLC in an $82.5 million all-cash deal.

BuzzFeed Inc. has sold First We Feast, its food-centered brand behind the popular YouTube interview show Hot Ones, to a group of investors for $82.5 million, ending a months-long search and raising cash to pay down debt.

BuzzFeed sold First We Feast, the studio best known for producing “Hot Ones,” a popular interview show where celebrities eat a series of increasingly spicy chicken wings.

First We Feast will become an independent company led by founder Chris Schonberger as chief executive and 'Hot Ones' host Sean Evans as chief creative officer, while continuing to produce 'Hot Ones' and expand advertising partnerships.

The media company has sold First We Feast, the studio behind the viral YouTube series "Hot Ones," to a group of investors that include the production company's founder Chris Schonberger and the host of "Hot Ones" Sean Evans as well as Crooked Media,