Retreating from a wider, millennial-focused market, Univision says it will now concentrate on its core Hispanic media assets "and strengthen its position as the no. 1 media company serving U.S. Hispanics."
Univision Communications has announced the sale of Gizmodo Media Group and The Onion to private equity firm Great Hill Partners. Terms of the transaction were not disclosed.
A statement from Univision said that the sale "is part of Univision’s go-forward strategy to focus on its core Hispanic media assets and strengthen its position as the No. 1 media company serving U.S. Hispanics."
The GMG digital portfolio includes Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther, and Jalopnik. The Onion portfolio includes The Onion, Clickhole, The A.V. Club, and The Takeout.