NEW YORK: Univision Communications\u00a0Inc. (UCI) is taking over full ownership of Fusion, ending its joint partnership with ABC for the service.<\/p>\n
Effective immediately, UCI will take over ABC\u2019s role in handling distribution and ad sales functions for Fusion\u2019s 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.<\/p>\n
“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.”<\/p>\n
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\u2019s shared values and passion points across all platforms. The Fusion Media Group will include UCI\u2019s interests in Fusion and El Rey as well as The Root, The Onion, A.V. Club, Clickhole, Starwipe, Flama, Univision Digital and Univision Music.<\/p>\n
\u201cThis 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,\u201d said Randy Falco, president and CEO of Univision Communications Inc. \u201cFully 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.\u201d<\/p>\n
\u201cThe face of America is changing and we are focused on serving a new majority whose influence is rapidly growing\u2014affecting everything from politics and the economy to our culture,\u201d said Isaac Lee, chief news and digital officer at Univision Communications Inc. \u201cThrough impactful journalism and smart commentary, our portfolio will serve a rising generation with meaningful content that reflects their values and passions. We don\u2019t just understand the audience, we are the audience.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW YORK: Univision Communications Inc. (UCI) is taking over full ownership of Fusion, ending its joint partnership with ABC for the service.<\/p>\n","protected":false},"author":350,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[257,218],"class_list":["post-2982","post","type-post","status-publish","format-standard","","category-top-stories","tag-fusion","tag-univision-communications-inc"],"yoast_head":"\n