×

Univision Says It’s Exploring Sale of Former Gawker Sites and The Onion

Univision Communications is officially looking to unload the Gizmodo Media Group — which mostly comprises the sites it acquired in the bankruptcy auction of Gawker Media — and its stake in comedy and entertainment publisher The Onion.

The Hispanic media company said Tuesday that it has initiated a formal process to explore the sale of the Gizmodo Media Group (GMG) and The Onion, in which Univision owns a controlling stake.

“The company determined that pursuing a sale of GMG and The Onion collectively will allow UCI to focus on its core assets and further strengthen UCI’s position as the No. 1 media company serving U.S. Hispanics, while enabling both GMG and The Onion even greater opportunities to grow under new ownership,” Univision said in a statement.

The GMG digital portfolio includes Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther and Jalopnik and The Onion portfolio includes, The Onion, Clickhole, The A.V. Club and The Takeout.

In August of 2016, Univision paid $135 million for the Gawker assets in a bankruptcy auction,which didn’t include the currently dormant Gawker.com. Univision acquired a 40% stake in The Onion in January 2017.

Last week, the Wall Street Journal had reported that Univision was seeking a buyer for Fusion Media Group, which includes GMG and The Onion.

The proposed sale of Gizmodo Media Group and The Onion stake comes after Univision pulled its plans for an initial public offering this past March. CEO Randy Falco announced he would be retiring a day later. Univision is now led by broadcast-TV veteran Vince Sadusky, who took the helm June 1.

Gizmodo Media Group CEO Raju Narisetti left the company this spring, after the ex-News Corp exec had spent about a year and a half with Univision. Also leaving the company were Fusion Media Group CEO Felipe Holguin and president and chief content officer Daniel Eilemberg.

In its announcement Tuesday, Univision said it has engaged Morgan Stanley as financial adviser to assist in the sales process of GMG and The Onion.

More Digital

  • Vobile - ZEFR acquisition - Yangbin

    Zefr Sells Its Copyright-Flagging and YouTube Channel-Management Businesses to Vobile for $90 Million

    Vobile Group, a video protection and measurement company, announced a deal to acquire Zefr’s RightsID copyright-management and ChannelID YouTube channel-management businesses for about $90 million. According to the companies, Zefr’s RightsID and ChannelID together generated over $40 million in revenue in 2018 and were profitable. The deal stands to more than triple the revenue for [...]

  • Justin Connolly

    Disney Merges All Media Sales and TV Channel Distribution Under Justin Connolly

    Disney promoted longtime ESPN exec Justin Connolly to the new role of president, media distribution, overseeing a single organization that combines all of the company’s media sales and TV channel distribution operations. Connolly previously served as EVP, affiliate sales and marketing, Disney and ESPN Media Networks. Based in New York, he will report to Kevin [...]

  • NASA - International Space Station

    Hulu Is Getting NASA TV in Time for the Moon Landing Anniversary

    Hulu’s live TV service is getting NASA TV just in time for the 50th anniversary of the Apollo 11 mission. In addition to a live feed, which is available only to subscribers of Hulu’s live TV tier, Hulu is also gaining access to select NASA TV series on demand. The live TV deal was announced [...]

  • iheartmedia logo

    iHeartMedia Stock Drops in NASDAQ Debut

    Shares of iHeartMedia, the U.S.’s biggest radio network, fell as much as 7% after they commenced trading Thursday on the NASDAQ Global Select Market, and ended the day down around 3%. Last month, after exiting a year-long bankruptcy reorg, iHeartMedia announced it was approved for listing on NASDAQ, instead of pursuing an IPO. The company’s [...]

  • iHeartMedia-Pride-Media-TheOutcast-Logo

    iHeartMedia, Pride Media to Co-Produce Slate of LGBTQ+ Podcasts

    iHeartMedia is teaming with Pride Media, the media company whose brands include Out, The Advocate and Pride, to co-produce a slate of LGBTQ+ podcasts in 2019-20. The partnership will kick off with “The Outcast,” an iHeartRadio original podcast co-produced with Out Magazine. Hosted by Out Magazine deputy editor Fran Tirado, the weekly podcast will explore [...]

  • Netflix Reed Hastings

    Netflix Shares Dive After Q2 Stumble: Just a Hiccup or Sign of Bigger Trouble?

    Netflix badly undershot its subscriber forecasts for the second quarter of 2019 — posting its first net U.S. customer decline since 2011 while growth slowed considerably overseas. The company added 2.7 million subs worldwide, almost half as many as the 5 million it had projected. With the big miss, Netflix shares took a predictable hit, [...]

More From Our Brands

Access exclusive content