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The media company announced Thursday that it sold First We Feast, the food and pop culture entertainment brand behind the popular "Hot Ones" YouTube show, for $82.5 million in an all-cash deal. Additional investors will be announced at a later date, according to a press release from First We Feast, which will now operate as an independent multiplatform media company. Its show “Hot Ones,” which features celebrities answering questions while eating spicy chicken wings, has grown a strong fandom over the years for its unique format and Evans’ interview style. Evans will continue to serve as the host of "Hot Ones" and take on an additional role as First We Feast's chief creative officer. In a statement, Evans said he's "excited to continue hosting ‘the show with hot questions, and even hotter wings’ for years to come."
Persons: Chris Schonberger, Sean Evans, YouTubers Rhett, George Soros, we’re, Schonberger, I’m, Evans, Jennifer Lawrence, Shaquille O’Neal, Paul Rudd, Billie Eilish, Jan, he's, BuzzFeed, , Jonah Peretti, Organizations: Investors, Crooked Media, Entertainment, Soros Fund Management, YouTube, Complex Media, BuzzFeed, Inc
The company reported organic revenue growth of 7.2% in the fourth quarter, beating the average analyst estimate of 3.7% organic revenue growth, according to FactSet. Organic revenue growth was 9.4% for the full year, the company said, beating the average analyst estimate of 8.4%. The company said it is forecasting organic revenue growth this year of 3% to 5%. Organic revenue growth is a metric that removes the effects of currency fluctuations, acquisitions and disposals. Reported total revenue in the fourth quarter of 2022 increased 0.3% to $3.87 billion versus a year earlier.
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