---
schema_version: "secwatch.filing_event.v1"
accession: "0001828972-24-000249"
form_type: "8-K"
ticker: "BZFD"
cik: "0001828972"
company_name: "BuzzFeed, Inc."
filed_at: "2024-12-12T23:59:59+00:00"
generated_at: "2026-05-29T04:17:32.485456+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# BuzzFeed sells First We Feast for $82.5M cash; reduces debt to ~$30M

## Summary
- Sold First We Feast to consortium led by Soros Fund Management affiliate for $82.5M all-cash, closing Dec 11, 2024.
- Uses 95% of net proceeds (~$75.6M) plus cash to redeem $75.6M of 8.50% Convertible Senior Notes due 2026; also privately repurchases $12M of notes, leaving ~$30M outstanding.
- Q4 2024 continuing operations guidance: revenue $54-58M, Adjusted EBITDA $4-9M (excluding First We Feast as discontinued operations).
- Approved cash bonuses: CFO Matt Omer $95k, Chief Legal Officer David Arroyo $96.6k in connection with the sale.
- Company states cash balance exceeds remaining debt post-transaction, focusing on programmatic advertising and affiliate commerce.

## SEC filing metadata
- accession: 0001828972-24-000249
- form_type: 8-K
- ticker: BZFD
- cik: 0001828972
- company_name: BuzzFeed, Inc.
- filed_at: 2024-12-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828972/000182897224000249/0001828972-24-000249-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828972/000182897224000249/bzfd-20241210.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001828972-24-000249
- JSON: https://secwatch.observer/filing/0001828972-24-000249.json
- Plain text: https://secwatch.observer/filing/0001828972-24-000249.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.