Univision Sells Gizmodo Media Group and The Onion to Great Hill Partners

In a bid to take over the millennial market, Univision had purchased the digital assets of the former Gawker Media for $135 million, and acquired 40% of The Onion, in 2016.

Signaling the dismantling of the much-publicized strategy that started in 2013 with the premiere of the Fusion TV channel, created to court the young English-dominant Latinx audience, and its retreat back to its tried-and-true focus on the Spanish-language market, this past June Univision gave buyouts to over 40 employees of the Gizmodo properties.

"Today’s announcement is the culmination of a very thorough process, as part of Univision’s broader strategic realignment and return to its core strengths in Hispanic media and marketing," said Vince Sadusky, Chief Executive Officer of Univision in the statement. "Our aim from the outset of this process was to sell these assets as one, and we are pleased to have found a terrific buyer in Great Hill Partners that is committed to growing these properties. We are grateful to our colleagues at GMG and The Onion for all of their high-quality journalism and achievements as part of our company and we wish them and Great Hill Partners tremendous success."