Two years after buying, Univision wants to sell its Gawker, Onion portfolios

July 10, 2018

Enlarge / Want to buy these official The Onion mugs? They’re only $15. Owning the full Onion and Gawker portfolios, on the other hand, may cost more. (credit: The Onion)

After a rapid acquisition of English-speaking online properties in 2016, Univision Media Co. is reversing course. On Tuesday, the Hispanic America-focused media company announced its intent to sell all assets related to two of its biggest 2016 pickups: Gizmodo Media Group (formerly Gawker Media) and The Onion.

Univision (UCI) “determined that pursuing a sale of GMG and The Onion collectively will allow UCI to focus on its core assets and further strengthen UCI’s position as the No. 1 media company serving US Hispanics, while enabling both GMG and The Onion even greater opportunities to grow under new ownership,” the company wrote in a Tuesday statement. This announcement of a “potential sale” comes with the caveat that a transaction may not take place.

Univision acquired Gawker Media by outbidding Ziff Davis with its $135 million offer in August 2016. Days later, Gawker.com shut down in the wake of successful litigation by Terry “Hulk Hogan” Bollea over the site’s report on his mid-2000s sex tape. That court case resulted in a $115 million judgement in Bollea’s favor. At that time, various Gawker staffers were absorbed by other Gizmodo Media Group sites, and all of those—Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther, and Jalopnik—are now on the auction block.

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Source: http://feeds.arstechnica.com/arstechnica/index/

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