The now Vince Sadusky run Univision may be trying to trim costs and staff to stay competitive but the purchase and possible sale of The Onion could result in a whole new set of tears for the Spanish-language media company. That would be at least $2 million dollar’s worth of tears to be specific in a lawsuit filed against Univision and the news satire outlet late last week by financial specialists GCA Advisors.
Univision is making a U-turn in its digital media strategy. The Spanish language media company said Tuesday that it is looking to sell most of the online properties that it has acquired in the past few years. This includes the family of websites formerly known as Gawker Media — including brands like Gizmodo and Jezebel — and the satirical publication The Onion.
Univision Communications has acquired a controlling stake in the satiric news site The Onion, NPR is reporting. The agreement between two seemingly disparate media outfits was described to NPR by a person with direct involvement in the negotiations. A second person who was briefed on the deal by Univision executives also confirmed its broad strokes. Financials were not disclosed, though Univision will acquire a controlling 40% that includes Onion verticals The AV Club, Clickhole and its book and video projects, along with an option to buy the company outright.