BuzzFeed, one of the popular digital publishing companies, is facing a number of constraints, including financial problems. In an effort to ease the pressure, BuzzFeed has now sold the company behind the popular series “Hot Ones” for $82.5 million.
For those who are not familiar with the “Hot Ones” series, it is one of the popular shows on YouTube that requires the audience to eat with a touch of sauce according to the level of spiciness. Various artists and popular figures are available to be interviewed through the show, and have their own fans. The “First We Feast” channel on YouTube that publishes the “Hot Ones” series already has more than 14 million subscribers at the moment.
Hot Ones is being sold to a consortium owned by George Soros, namely Soros Fund Management. The sale is not expected to bring any changes to the “First We Feast” channel, and is aimed at leading to the creation of more new series under this new ownership.
BuzzFeed also said that the sale of "Hot Ones" will also help BuzzFeed transition to a media company that takes full advantage of artificial intelligence.