The Wall Street Journal reports that Univision Communications is exploring a sale of Fusion Media Group, which houses websites including Gizmodo and Deadspin, as it pursues a companywide restructuring following a leadership change, people familiar with the matter say. The move would be a reversal for Univision, best known as the largest Spanish-language TV broadcaster in the U.S. Over the past several years, it has invested in digital assets and sought to diversify its audience by buying English-language websites that appeal to younger, bilingual Hispanic-Americans. Journal subscribers can read the full story here.
Two years after its splashy acquisition of the former Gawker sites,Univision’s Fusion Media Group is careening into a new era of belt-tightening and downsizing. Will Penske or Diller be enticed to help them unload what’s left?
The television company has, over the last week, tapped a new CFO, canceled a planned public offering and axed some high-level staffers. It turns out that the company has had some professional help in making these tough decisions. In December, Univision brought in management consulting firm Boston Consulting Group to help the company chart a path forward.
Twenty Univision staffers were laid off last Friday as part of cost-cutting measures, including high-level executives at the Univision-owned Fusion Media Group, which consists of the Fusion TV network, as well as digital publishers, including The Onion, Gizmodo and The Root.
Fusion TV, the Doral, Fla.-based TV network that is part of the Fusion Media Group, is cutting nearly half of its documentary staff, laying off six members of a 13-person group.
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The Hispanic-focused TV network wants a minority investor to put $200 million into its Fusion Media Group.
Publishers often complain about the quality of the ads on their sites. Now Fusion Media Group, owner of Gizmodo and The Onion, is giving advertisers an incentive to step up their game.