Univision Buys Controlling Stake in the Only News Outlet Worth Reading, The Onion
According to NPR, Univision just acquired a controlling stake in The Onion, the parent site of the only worthwhile website on the entire internet.
The report, first published on NPR, was confirmed Tuesday morning by Univision.
The Onion is a complementary extension of UCI’s Spanish- and English-language digital portfolio, broadening the Company’s multicultural, digital footprint and its reach with a highly coveted millennial audience. With more than 25 million engaged monthly uniques on Onion Inc.’s platform, UCI will expand its overall digital presence in multicultural, millennial focused content with this transaction.
While Onion Inc. will operate independently, maintaining the integrity of the brand and editorial voice, UCI will have oversight of Onion Inc. to leverage Univision Digital’s distribution, resources and media expertise to expand the exposure of the brand. In particular, Univision Digital will work with Onion Inc.’s brands to explore new content opportunities, including short- and long-form formats for each Onion brand across digital and linear mediums.
According to NPR, the deal also includes The Onion’s pop-culture site, The AV Club, and the website Clickhole, the only real reason to pay for internet. The deal also gives Univision the option to buy The Onion outright.
The potential of lending content to Fusion, Univision’s beleaguered television channel and little-read website that managed to lose $17.8 million in the first nine months of 2015 alone, was apparently a “key element” in the deal.
Who cares, you ask? The point is, they own this now:
