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Sunday, January 31, 2016
Univision Buys Minority Stake in The Onion
About two weeks ago, Univision Communications it has made a minority investment in Onion Inc., the media company behind satirical The Onion. Terms of the transaction were not disclosed. The New York Timesreported that Univision acquired a 40 percent stake, valued at less than $200 million, citing a person briefed on the deal.
"The Onion is a complementary extension of UCI’s Spanish- and English-language digital portfolio, broadening the company’s multicultural, digital footprint and its reach with a highly coveted millennial audience," Univision said. "With more than 25 million engaged monthly uniques on Onion Inc.’s platform, UCI will expand its overall digital presence in multicultural, millennial-focused content with this transaction."
Onion Inc. brands include The Onion; The A.V. Club, which features pop-culture commentary, interviews, reviews and other entertainment-related content; ClickHole, a satire on such websites as BuzzFeed;StarWipe, which calls itself “the most trusted source in the completely untrustworthy realm of celebrity gossip”; and digital video network Onion Studios, which combines programming from the company’s brands and original series.
The deal comes at a time when traditional media companies have been chasing a younger audience by making investments in big-name digital brands. NBCUniversal sank $200 million each into BuzzFeed and Vox Media in 2015, and 21st Century Fox and A+E Networks have taken stakes in Vice Media.