Univision Taking Full Ownership of Fusion

NEW YORK: Univision Communications Inc. (UCI) is taking over full ownership of Fusion, ending its joint partnership with ABC for the service.

Effective immediately, UCI will take over ABC’s role in handling distribution and ad sales functions for Fusion’s multiplatform network and will have editorial control. The transition of ownership will happen once the transaction is completed, which is expected to be soon. Terms of the transaction are not being disclosed.

“Our companies have gained valuable knowledge from each other over the past several years and we are proud of what we have built together in a short period of time,” ABC and UCI said in a joint statement. “The mutual bonds created between our teams will remain.”

With joint ownership ending, UCI is forming the Fusion Media Group (FMG). FMG will serve as the multiplatform destination for the “new, rising American mainstream,” delivering content that embodies the audience’s shared values and passion points across all platforms. The Fusion Media Group will include UCI’s interests in Fusion and El Rey as well as The Root, The Onion, A.V. Club, Clickhole, Starwipe, Flama, Univision Digital and Univision Music.

“This is an important time for UCI as we continue to evolve as a company to meet and exceed the demands of the cross-cultural influencers that we serve,” said Randy Falco, president and CEO of Univision Communications Inc. “Fully integrating Fusion into our portfolio closely aligns with our desire to engage with our growing audience wherever they are, whenever they want and in their language of preference. FMG is extremely well positioned to reach this young, diverse audience at scale and with passion, irreverence and authenticity. It will define and lead the zeitgeist of American youth.”

“The face of America is changing and we are focused on serving a new majority whose influence is rapidly growing—affecting everything from politics and the economy to our culture,” said Isaac Lee, chief news and digital officer at Univision Communications Inc. “Through impactful journalism and smart commentary, our portfolio will serve a rising generation with meaningful content that reflects their values and passions. We don’t just understand the audience, we are the audience.”