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 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 sold the First We Feast media company behind the “Hot Ones" podcast series to an affiliate group of Soros Fund Management on Thursday for $82.5 million.

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, 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.

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 buyers include an affiliate of Soros Fund Management, progressive podcast company Crooked Media and Mythical Entertainment, the media company founded by the YouTube creators known as Rhett and Link.