Hispanic media company Univision Communications has acquired The Root, a top online destination for African-American news and commentary, in a bid to expand its reach to a new audience.
Terms of the deal were not disclosed. The Root was a subsidiary of the Slate Group, owned by Graham Holdings Co. In 2013, Jeffrey Bezos, founder and CEO of Amazon.com, acquired the Washington Post, in a separate transaction.
In joining Univision, The Root will use UCI’s digital production facilities and publishing infrastructure while preserving its editorial voice, according to the company.
“This bold new partnership between Univision and The Root underscores the ties that have long bound people of color together throughout the Western Hemisphere and is a sign of even greater levels of communication, collaboration and exchange between these culturally vital groups of people,” said Henry Louis Gates Jr., director of the Hutchins Center for African and African-American Research at Harvard University, and chairman of The Root. Gates co-founded The Root with Donald Graham, CEO and chairman of Graham Holdings, in January 2008.
The Root reaches an average of 5 million unique users per month, according to research firm comScore. “Our diverse communities are continuing to define the fabric of the country, from buying power, to social influence, to elections,” said Isaac Lee, president of news and digital for Univision Communications and CEO of Fusion, a joint venture with ABC News.
[Correction: An earlier version of this story said Univision acquired The Root from Amazon.com founder and CEO Jeff Bezos. In fact, Bezos acquired only the Washington Post in 2013; Graham Holdings Co. retained ownership of The Root and was the seller of the property to Univision.]