Progressive billionaire George Soros and his family helped media and entertainment company BuzzFeed avoid bankruptcy issues by purchasing a popular asset.
Soros bought First We Feast, the production company that owns the "Hot Ones" interview show, for $82.5 million, The New York Times reported.
The "Hot Ones" shows celebrities answering questions while eating increasingly spicy chicken wings.
BuzzFeed had been facing $124 million in debt and interest payments, with the prospect of having to pay it back this month, before the all-cash deal was consummated, Business Insider reported.
First We Feast/Hot Ones to was sold to a consortium led by an affiliate of Soros Fund Management LLC, which has backed media and entertainment companies in recent years.
Other investors in the First We Feast sale include Crooked Media and comedy duo Rhett & Link's Mythical Entertainment, with additional investors to be announced at a later date, according to the company's statement.
The Soros Fund in 2022 invested an undisclosed sum in Crooked Media, the company created by the former Obama administration staff members behind the podcast "Pod Save America," the Times reported.
In September, the Federal Communications Commission approved the transfer of licenses for 200 radio stations to a company controlled by the Fund for Policy Reform, a nonprofit funded by George Soros.
The FCC's two Republican commissioners, Brendan Carr, the senior Republican on the committee, and Nathan Simington, opposed the transfer of licenses from the bankrupt radio broadcaster Audacy Inc. to the Fund for Policy Reform in a deal that establishes a four-person board, which includes Alex Soros, for a new version of Audacy.
In October, Reps. James Comer, R-Ky., and Nick Langworthy, R-N.Y., members of the House Oversight Committee, wrote a letter to FCC Chair Jessica Rosenworcel, announcing an investigation into the FCC's approval of the transfer, which they claim ignored concerns about foreign ownership.
Just last week it was reported George Soros and his son donated $15 million to pro-Democrat local publications during the 2024 election cycle.
The 11 media outlets that comprise Courier News then spent millions on political advertisements praising Democrats and opposing Republicans, the Washington Examiner reported.
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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