The company commenced a formal process to check out the sale of properties these kinds of as Gizmodo, Jezebel, Deadspin and Lifehacker.
Univision Holdings Inc. is thinking about the sale of Gizmodo Media Team and The Onion, a transfer that requires a rollback of its English-language web sites in favor of media aimed at Hispanic Individuals.
The firm commenced a formal process to discover the sale of houses this kind of as Gizmodo, Jezebel, Deadspin and Lifehacker, in accordance to a statement on Tuesday. Univision’s satirical Onion portfolio consists of its site of the exact same identify, together with Clickhole, AV Club and other manufacturers.
Bloomberg and other information organizations documented last week that a feasible sale was in method. Univision acquired many of the websites when it acquired Gawker Media for US $ one hundred thirty five million in a 2016 individual bankruptcy auction. But the company’s generate past articles aimed at Latinos has been difficult.
Previous thirty day period, it started giving buy offers to Gizmodo Media workers, with the aim of lowering its editorial spending budget for employees by fifteen%, mentioned 1 particular person acquainted with the matter at the time.
Univision has appointed Morgan Stanley financial advisor to assess the sale. The go would enable it to emphasis on “core belongings,” which would aid shore up the company’s position as the foremost media service provider for Hispanics in the United States, the assertion explained.