×

Univision Looking to Sell Fusion Media Group (Report)

Univision Communications now wants to unload Fusion Media Group — coming two years after it bought a half-dozen websites from Gawker Media in a bid to boost its reach among younger audiences.

The Hispanic media giant is exploring a sale of Fusion Media Group, the Wall Street Journal reported. (Univision declined to comment.) The strategic about-face comes after Univision cancelled its initial public offering plans earlier this year and has seen broad turnover among its senior executive ranks.

Univision last year had tried to sell a 20% stake in Fusion Media Group for $200 million, but failed to find any investors willing to go in on the deal, the Journal reported. According to the WSJ, potential partners were “skittish” about working with the Univision ownership group, which includes Haim Saban’s Saban Capital Group, Televisa, and private-equity firms Providence Equity Partners, Madison Dearborn Partners, Thomas H. Lee Partners and TPG.

In March, Univision CEO Randy Falco announced his exit one day after the company had scrapped IPO plans. This spring, it Univision laid off 150 employees as part of another wave of restructuring.

Fusion Media Group CEO Felipe Holguin and president and chief content officer Daniel Eilemberg also left the company. Shortly afterward, Raju Narisetti, CEO of FMG’s Gizmodo Media Group and a former News Corp exec, also exited after about a year and a half with Univision.

Univision named Vince Sadusky its new CEO, who officially started June 1, with Falco staying on as an adviser through year-end. Sadusky is the former CEO of Media General and Lin TV station groups.

Univision created the Fusion Media Group in April 2016, after Disney exited the Fusion cable and digital-media joint venture. In August of that year, Univision paid $135 million for the Gawker assets in a bankruptcy auction, which didn’t include the currently dormant Gawker.com.

Fusion Media Group’s Gizmodo Media Group brands are Gizmodo, Deadspin, TrackRecord, Lifehacker, Jezebel, Splinter, The Root, Kotaku, and Jalopnik. In addition, the Fusion Media Group includes the company’s interest in the Onion, Clickhole and The A.V. Club as well as two cable networks — Fusion TV, a news and lifestyle English-language network, and Univision’s interest in El Rey Network — and a production studio.

More TV

  • American Son review

    TV News Roundup: Netflix Releases 'American Son' Trailer

    In today’s TV news roundup, Netflix released the trailer for “American Son” starring Kerry Washington and first looks at Dolly Parton’s new anthology series, “Heartstrings.” FIRST LOOKS Netflix has released the trailer for “American Son,” which premieres Nov. 1 on the streaming service. Directed by Tony award-winner Kenny Leon, the film is based on the [...]

  • BBC's Little Mix Talent Show to

    BBC's Little Mix Talent Show to Be Produced by Management Firm's New Shingle, ModestTV

    The BBC has confirmed its Little Mix talent show, which the pop band’s management firm, Modest!, will produce through a new banner, ModestTV. “Little Mix The Search” will be exec produced by Andrea Hamilton, who has partnered with the management outfit to launch the new operation. Her entertainment show credits include “The Voice” and “Strictly [...]

  • Monica Beletsky Apple TV Plus

    Apple Sets Overall Deal With Monica Beletsky

    Monica Beletsky is the latest of a small group of content creators to set an overall deal with Apple and their streaming platform, Apple TV Plus. Under the multi-year deal, Beletsky will develop and produce television series exclusively for the streamer. This is the first overall of Beletsky’s career. Her previous credits include “Fargo,” “Friday [...]

  • Saladin Patterson

    Saladin Patterson Inks Overall Deal at 20th Century Fox Television

    Saladin Patterson has signed an overall deal with 20th Century Fox Television. Under the multi-year deal, Patterson will develop, write and produce comedy series for network, cable and streaming platforms. He was previously under a development deal at the studio earlier in his career. Patterson is currently an executive producer on the upcoming FX series [...]

  • Lenny Abrahamson and 'The Favourite' Producer

    'Room' Director Lenny Abrahamson and 'The Favourite' Producer Ed Guiney Present Their BBC-Hulu Series 'Normal People' (EXCLUSIVE)

    At TV market Mipcom in Cannes this week the team behind BBC-Hulu series “Normal People” – led by Lenny Abrahamson, the Oscar nominated director of “Room” – presented the first footage from the show, and explained how they approached the adaptation of Sally Rooney’s novel. Variety had exclusive access to the presentation. Ed Guiney, one [...]

  • El Camino: A Breaking Bad Movie

    ‘El Camino: A Breaking Bad Movie’ Scores 6.5 Million Viewers Across First Weekend

    “El Camino: A Breaking Bad Movie,” which dropped on Netflix Oct. 11, drew around 6.5 million total viewers in its first three days on the streaming platform, according to Nielsen. The movie also reached just under 8.2 million unique TV viewers. “El Camino” unsurprisingly drew its biggest audience of the three days on day 1, [...]

  • Natalie Morales, Photo by Catie Laffoon

    'Dead to Me' Season 2 Casts Natalie Morales (EXCLUSIVE)

    Natalie Morales has been cast in “Dead to Me” Season 2 at Netflix, Variety has learned exclusively. Morales will appear in the recurring role of Michelle. Described as wry and down to earth, Michelle has a relaxed charm and infectious wit. She forms a connection with Judy (Linda Cardellini) at the Assisted Living Facility, where Michelle’s [...]

More From Our Brands

Access exclusive content