The Hispanic-language giant is selling the brands, acquired from Gawker Media, to Great Hill Partners.
Univision is acknowledging the financial weakness of the Gizmodo Media Group digital media assets the company has purchased over the last few years, including the former Gawker Media Group publications it picked up in the summer of 2016. The company reported that the assets lost $32.5 million in the fourth quarter of 2018.
The money-losing Gizmodo Media Group, operator of sites including Jezebel, Deadspin and The Onion, is still struggling to find a buyer — six months after it got put on the block by Univision, the Spanish-language broadcasting giant, sources say.
The Wall Street Journal is reporting that the Gizmodo Media Group, a division of Univision Communications, has sought to quickly defeat a defamation lawsuit brought over an article published on the sports website Deadspin, saying the complaint is intended to intimidate journalists. WSJ subscribers can read the full story here.
Raju Narisetti, CEO of Univision’s Gizmodo Media Group (renamed from Gawker Media Group), shares the broad strokes of the company’s strategy. It involves back-end consolidation, e-commerce, less editorial duplication and a goal to develop television shows from its sites.