Univision confirmed Tuesday that it is “initiating a formal process to explore the sale” of Gizmodo Media Group (which includes The Root) and The Onion, according to a press release . The release goes on to say that pursuing this sale is done with the intention to allow Univision Communications, Inc. to “focus on its core assets and strengthen its position as the No. 1 media company serving U.S. Hispanics,” while Gizmodo Media Group and The Onion will be able to grow under new ownership. Univision bought Gizmodo from Gawker in 2016, but in the past year the company has had restructuring and layoffs . There were rumors that Univision wanted to sell a stake in the company last year. The Gizmodo Media Group consists of brands including The Root, Jezebel, Deadspin, Lifehacker, Splinter, Kotaku, Earther, Jalopnik and Gizmodo. The Onion includes its namesake, Clickhole, The A.V. Club and The Takeout.
Jul 11, 2018