Bloomberg News
Univision Communications Inc. said Tuesday that it is exploring a sale of its Gizmodo Media Group, which houses websites including Gizmodo and Deadspin, and the satirical website The Onion, as it focuses on core assets.
The Wall Street Journal reported Friday that Univision was exploring a sale of assets under Fusion Media Group, which includes Gizmodo Media, citing people familiar with the matter. The move would be a reversal for Univision, best known as the largest Spanish-language TV broadcaster in the U.S.
Over the past several years, Univision has invested in digital assets and sought to diversify its audience by buying English-language websites that appeal to younger, bilingual Hispanic-Americans.
Earlier this year, Univision shelved plans to go public after disappointing financial results. In June, Univision’s board tapped Vincent Sadusky, former chief executive of TV station-owner Media General Inc., as the company’s new chief executive, succeeding Randy Falco.
An expanded version of this report appears on WSJ.com.
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