Univision Communications has initiated a formal process to explore selling off the Gizmodo Media Group (GMG) and The Onion.
“The Company 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 number one media company serving U.S. Hispanics, while enabling both GMG and The Onion even greater opportunities to grow under new ownership,” the company said in a statement. Morgan Stanley is serving as financial advisor to assist in the process.
The GMG portfolio includes Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther and Jalopnik, while The Onion portfolio includes The Onion, Clickhole, The A.V. Club and The Takeout.