Univision Confirms Plans to Sell Gizmodo Media Group and The Onion

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by @todotvnews the 11/07/2018
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Univision Communications Inc. has announced its exploring the possibility of selling the assets comprising the Gizmodo Media Group (GMG) and The Onion.

A day after the news broke that Univision was intending to sell Fusion Media Group, Univision Communications Inc. (UCI) has confirmed on Tuesday its intent to sell the Gizmodo Media Group (GMG) and The Onion, assets belonging to Fusion Media Group.

As they explained on a press release, they chose to sell both properties collectively so that UCI can focus on its core assets and further strengthen its core business, the Hispanic community in the US.

"Both GMG and The Onion will have even greater opportunities to grow under new ownership," reads the 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.

"There is no assurance that the process to explore the sale of these assets will result in any transaction or the adoption of any other strategic alternative," they explained.

UCI has engaged Morgan Stanley as financial advisor to assist in the process.

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