Univision confirms it’s exploring sale of Gizmodo Media Group and The Onion – TechCrunch

Over the weekend, phrase broke that Univision was planning to dump Fusion Media, the model portfolio containing a bit of The Onion and varied media properties bought in a Gawker fireplace sale lower than two years again. Immediately, the corporate confirmed with TechCrunch that it has “initiated a formal process to explore the sale” of each the Gizmodo Media Group and The Onion.

The corporate isn’t providing a lot data past what’s presently accessible within the press launch, however the proposed sale features a bevy of robust media manufacturers, together with Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Jalopnik, The Onion, Clickhole, The A.V. Membership and The Takeout.

The Spanish language broadcaster bought the Gizmodo belongings from Gawker Media for $135 million again in 2016, after the corporate was rocked by a Peter Thiel-backed Hulk Hogan lawsuit. The portfolio was rolled up together with Fusion TV into Fusion Media, a millennial-focused pivot into digital by a model that had historically had points maintaining with the occasions.

However Univision’s yr has seen a CEO shuffle and ongoing restructuring with a number of rounds of layoffs. Univision reportedly tried to promote a stake within the firm final yr, however finally failed resulting from “skittish” traders.

This day out, it appears Univision is all in, although it notes {that a} sale is something however assured, writing, “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.”

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