Google+

Univision Buys Large Stake in Satirical Site “The Onion”

 

Univision Buys Large Stake in Satirical Site “The Onion”

By Burt Carey

This one’s not a joke.

Aiming to attract millennials to its audience, Hispanic media giant Univision announced on Tuesday that it has purchased a controlling interest in the online satirical publication TheOnion.com.

Univision, The Onion, satirical publication, comedy

In typical Onion fashion, no such news was reported on its website Tuesday, as more significant news items reflected the publication’s cutting-edge style. Headlines today were: “NCAA Investigating God for Giving Gifts To Athletes,” and “Governor Demands To Know Which Star On American Flag Is Iowa’s.”

Univision is the parent company to the leading Spanish-language broadcast channel in the United States, and very much a serious media company. By acquiring The Onion, the company signaled that it may be preparing for a much-rumored bid to go public with a strong property that appeals to an English-speaking 18- to 34-year-old audience. It could also fit well with Fusion, a digital/TV project that is a joint effort between Univision and ABC.

Terms of the deal were not made public, but media analysts ventured that the buying price was less than $200 million. With it comes The Onion’s highly touted staff of editorial satirists, the company’s advertising agency, Onion Labs, as well as two sister sites, The A.V. Club and ClickHole. Univision is rumored to be in negotiations to buy Disney’s share of Fusion. In December, TheOnion.com drew 19.3 million unique visitors in the U.S., according to comScore.

TheOnion.com bills itself as “the world’s leading news publication, offering highly acclaimed, universally revered coverage of breaking national, international, and local news events. Rising from its humble beginnings as a print newspaper in 1765, The Onion now enjoys a daily readership of 4.3 trillion and has grown into the single most powerful and influential organization in human history.” Its tongue is firmly planted inside of someone’s cheek.

“Comedy is playing an expanding role in our culture as a vehicle for audiences to explore, debate and understand the important ideas of our time,” said Isaac Lee, Univision’s president of news and digital. “It has also proven to be an incredibly engaging format for millennial audiences and is expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English.”

Originally a 1980s print publication, The Onion began in Madison, Wis., before moving to New York in 2001, and then to Chicago where its headquarters are today. Univision says The Onion will remain in Chicago. Its last print edition was published in December 2013.

Onion CEO Mike McAvoy addressed the sale in a staff memo Tuesday: “What does this mean for us as a company? Good things. Univision is excited to help Onion Inc. grow, and to provide the resources to both support our long-standing mission and fund new initiatives. They’ll help us keep the foundation strong and to build great new things on top of it. As an independent media company, we’ve always been forced to run a tight financial ship, which has made us smart and lean, but not always ready to invest in the great new ideas that we come up with.”

Source:  Baret News

Entertainment

Franchise Reboot Revolves around Road Trip from Hell

  Diary of a Wimpy Kid: The Long Haul Blu-ray Review by Kam Williams Franchise Reboot Revolves around Road Trip from Hell  According to Murphy's Law, "Anything that can go wrong, will go wrong." And Diary of a Wimpy Kid: The Long Haul provides cinematic support for that pessimistic principle. For, this kitchen sink comedy relies on the … [Read More its Good for You...]

Books

Book of Black Heroes

  Book of Black Heroes Political Leaders Past and Present by Gil L. Robertson, IV Foreword by Myrlie Evers-Williams Just Us Books Paperback, $12.95 80 pages ISBN: 978-1-933491-21-9 Book Review by Kam Williams “The first African-American political leaders began to serve following the Civil War...Known as Reconstruction, this period … [Read More its Good For You...]

Art

The Day After the Day Of

  The Day After the Day Of by Paul Ilechko   The sky sheds its tears. This morning is the morning of the day after. The day of mourning, the day after the day of.  I beseech the sky to shed tears in order to wash away the tears on my face.   This is the first day of the time after. This is the beginning of a new time, the … [Read More its Good for You...]

Real Estate

Real Estate: Refinancing Rates on the Rise in 2017

  Real Estate: Refinancing Rates on the Rise in 2017 by Amy Lignor   The term ‘meteoric rise’ usually applies to something fun. Think: A Hollywood actor who has been ‘discovered.’) Unfortunately, when it comes to this article, ‘meteoric rise’ is something that will not bring a smile to one’s face. To put it simply, if you wish to refinance … [Read More its Good for You...]

Lifestyle

The “King” Will Take Center Stage at the 2017 Wildlife Conservation Expo

  The “King” Will Take Center Stage at the 2017 Wildlife Conservation Expo by Amy Lignor   Each and every year the Wildlife Conservation Expo is held to address situations out there that are harming our world and its animal inhabitants. This time around, WCN’s annual Fall Wildlife Conservation Expo in October, will be focusing on … [Read More its Good for You...]

Outdoors

Hit the Wrecks and Rigs for Summertime Cobia

  Hit the Wrecks and Rigs for Summertime Cobia By Craig Lamb Cobia, ling or lemonfish. From the Gulf Coast of Texas far up the Atlantic Coast into the Carolinas, Rachycentron canadum is highly valued as a prized fighter and epicurean's delight. Tasty and sporting, the fish is fun to catch, and summertime is a great time to land a … [Read More its Good for You...]

Sports

College Football Arriving Soon!

  College Football Arriving Soon! by Amy Lignor   Ask any college football fan and they will tell you that it seems like an eternity waiting for the season to begin. But, have no fear, the kick-off to the college season is almost here, with Colorado State and Oregon State hitting the field on Saturday, August 26th at 2:30 p.m. ET. On … [Read More its Good for You...]

Business

Book of Black Heroes

  Book of Black Heroes Political Leaders Past and Present by Gil L. Robertson, IV Foreword by Myrlie Evers-Williams Just Us Books Paperback, $12.95 80 pages ISBN: 978-1-933491-21-9 Book Review by Kam Williams “The first African-American political leaders began to serve following the Civil War...Known as Reconstruction, this period … [Read More its Good for You...]

Travel

Going Back in Time on the Ultimate Steamboat Vacation

  Going Back in Time on the Ultimate Steamboat Vacation by Amy Lignor   Many people love taking a cruise. But it is the river cruise on that glorious steamboat that not only offers all the benefits a big ocean liner offers, but also creates a more personalized, intimate vacation experience. It is a unique recipe: being able to witness … [Read More its Good for You...]