‘Univision’ Tagged Posts

Univision confirms it’s exploring sale of Gizmodo Media Group and The Onion

Over the weekend, phrase broke that Univision was planning to dump Fusion Media, the model portfolio containing a piece of The Onion and numerous...

 

Over the weekend, phrase broke that Univision was planning to dump Fusion Media, the model portfolio containing a piece of The Onion and numerous media properties bought in a Gawker hearth sale lower than two years again. At this time, the corporate confirmed with Exadrive that it has “initiated a proper course of to discover the sale” of each the Gizmodo Media Group and The Onion.

The corporate isn’t providing a lot info past what’s at present obtainable within the press launch, however the proposed sale features a bevy of robust media manufacturers, together with Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Jalopnik, The Onion, Clickhole, The A.V. Membership and The Takeout.

The Spanish language broadcaster bought the Gizmodo belongings from Gawker Media for $ 135 million again in 2016, after the corporate was rocked by a Peter Thiel-backed Hulk Hogan lawsuit. The portfolio was rolled up together with Fusion TV into Fusion Media, a millennial-focused pivot into digital by a model that had historically had points maintaining with the occasions.

However Univision’s 12 months has seen a CEO shuffle and ongoing restructuring with a number of rounds of layoffs. Univision reportedly tried to promote a stake within the firm final 12 months, however in the end failed on account of “skittish” traders.

This outing, it appears Univision is all in, although it notes sale is something however assured, writing, “There isn’t any assurance that the method to discover the sale of those belongings will end in any transaction or the adoption of some other strategic different.”