Cold Product Embattled media company BuzzFeed is selling off First We Feast, the company behind the extremely popular interview show called “Hot Ones,” for $82.5 million to save itself from a mountain of debt. The deal will bring down the media empire’s debt load from almost $124 million by $88.8 million, the New York Times reports. Perhaps unsurprisingly, BuzzFeed is using the opportunity to double down on its “pivot to AI” strategy, arguing that the tech will allow the company to pull itself out of a years-long struggle. “The sale of First We Feast and continued reduction of our convertible debt marks an important step in BuzzFeed, Inc.’s strategic transformation into a media company positioned to fully benefit from the ongoing AI revolution,” BuzzFeed CEO Jonah Peretti said in a statement. “In the coming years, we will continue to invest in our most scalable and tech-enabled services, launching new AI-powered interactive experiences, and delivering for our loyal audience and business partners.” Artificial Internet But whether unloading a beloved property built on human personalities in favor of automated content will pay off remains to be seen. After a disastrous 2023, BuzzFeed’s stock has been recovering at a steady pace throughout this year. Its latest announcement that it would sell off First We Feast and its highly visible “Hot Ones,” however, has sent the stock plunging by over 36 percent over the last five days. Its efforts to pivot toward AI haven’t instilled much confidence, either. In March 2023, Futurism found that…BuzzFeed Sells "Hot Ones" as It Pivots to AI-Generated Content