BuzzFeed on Thursday said it had reached a deal to sell the company behind the popular interview show “Hot Ones” for $82.5 million, easing a cash crunch that has loomed over the media company for months.
The buyer is a consortium of investors led by an affiliate of Soros Fund Management that also includes Sean Evans, the affable host of “Hot Ones,” and Chris Schonberger, the founder of First We Feast, the show’s parent company. Mythical Entertainment, the media company created by the YouTube stars Rhett and Link, is also an investor.
The deal will allow BuzzFeed to pay down tens of millions of dollars in debt that was scheduled to come due this month.
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