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Univision To Sell Onion & Gawker Portfolios and Focus On Its Core Business

As a part of its brand portfolio rationalization program, Univision Communications Inc. has decided to sell the assets of its already acquired firms: Gizmodo Media Group and The Onion. For the record, the US-based media organization had purchased these two online properties in 2016. The company sources state that the strategic move will help UCI to focus on its core assets, thereby further reinforcing its position as Numero Uno firm in Hispanic America.

In the third quarter of 2016, Univision acquired Gawker Media for USD 135 million surpassing the lower bid of Ziff Davis. Later, was closed in the wake of a lawsuit filed by Terry Bollea claiming the publishing of his mid-2000 sex tapes on the web portal. Reports state that the Jury had given the verdict in favor of Terry and ordered Gawker, the parent firm of Gizmodo, to pay damages worth USD 115 million to Terry Bollea.

Authentic sources state that Gizmodo Media Group of UCI agreed to absorb the employees of Gawker Media firm post its closure. Earlier in January of 2016, GMG acquired nearly 40% of stake in The Onion that included Clickhole website & The AV Club, the media-review channel.

Last month, Dish Network removed 3 Spanish-language channels of Univision from its satellite television system and Sling TV streaming services after the talks between both the firms over new carriage deal failed. The disagreement affected Univision’s broadcast stations, including KMEX-TV Channel 34 & UniMas station KFTR-TV Channel 46 in Los Angeles.

Reportedly, the Cable Channel Galavision was also affected as a result of the outage. Sling TV viewers were also unable to view these channels along with Univision’s most popular sports channel.

Sources claim that Univision has been demanding higher prices from Dish Network for its three Spanish-language network. However, the latter declined the demands of Univision as well as its offer to extend the contract for two more weeks.

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