Univision is looking to sell both Gizmodo Media Group and The Onion, the company announced Tuesday.
“The Company has initiated a formal process to explore the sale of the assets comprising the Gizmodo Media Group (GMG) and The Onion,” Univision’s statement said.
“The Company determined that pursuing a sale of GMG and The Onion collectively will allow UCI to focus on its core assets and further strengthen UCI’s position as the No. 1 media company serving U.S. Hispanics, while enabling both GMG and The Onion even greater opportunities to grow under new ownership.”
Univision has struggled to monetize the Gizmodo Media properties purchased from Gawker Media in 2016. In recent days, staffers across editorial were pressured to take buyouts, sparing the company from having to pursue more draconian layoffs. The decision to formally seek a buyer comes amid broad turmoil at Univision. In April, the company dropped more than 150 people after plans for an IPO were scuttled.
The Gizmodo news is likely to be met with more trepidation among the company’s surviving employees, who have been buffeted by uncertainty for months.
“Loved being able to breathe for like, maybe a day before we were in the news again, it was really fun. Should do it again some time,” said James Whitbrook, a Gizmodo writer on Twitter.
Loved being able to breathe for like, maybe a day before we were in the news again, it was really fun
The desired sale, however, does not come as much of a surprise, as Univision’s trouble with the edgy media properties were well known. Last week, the story was essentially broken by the Wall Street Journal, which said the company was looking to part with all of its acquired Fusion Media (a parent to both Gizmodo Media and The Onion)
News of the sale adds to the drama over where a slew of Univision-owned websites, which includes Gizmodo, The Onion, Deadspin and Jezebel, will ultimately end up after their separation from Gawker Media.
The once mighty Gawker Media and their flagship property Gawker.com were forced into bankruptcy after losing a years long legal fight to Hulk Hogan and billionaire Peter Thiel. Gawker.com and a few of its remaining assets will be sold at an auction on Thursday.
2020 Presidential Election Odds: Can Oprah Challenge Trump? (Photos)
Oprah Winfrey's Golden Globes speech inspired stars, including Meryl Streep, to endorse their candidate -- even though the entertainment mogul isn't officially running... yet. With the next election cycle on the horizon, bookmakers are asking who might challenge President Trump in 2020. The website betonline.ag shared its current odds on who will next win the White House.
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Marco Rubio - 50/1 Odds
Rubio earned the nickname "Little Marco" from Trump during the Republican primary. Would he think to challenge his own party by running again?
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Amy Klobuchar - 50/1 Odds
Klobuchar is a senator from Minnesota and another democratic rising star.
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Andrew Cuomo - 50/1 Odds
The governor of New York has frequently feuded with Trump and his sons.
Mark Cuban - 50/1 Odds
"I think there is a place for somebody who is socially a centrist, but I'm fiscally conservative," Cuban said on Fox News back in October, hinting he may run, but as a Republican.
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Paul Ryan - 50/1 Odds
When Ryan was reported to have his sights set on retiring as Speaker of the House, the White House denied it and suggested Trump and Ryan are working together just fine.
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Julian Castro - 50/1 Odds
Obama's Secretary of Housing and Urban Development is a Texas native, the former mayor of San Antonio and is considered a rising star among Democrats.
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Dwayne "The Rock" Johnson - 40/1 Odds
"The Rock" teased a presidential run in one of his "SNL" stints, but he may be smart to consider a vice president spot after hearing Oprah's Golden Globes speech.
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Michael Bloomberg - 40/1 Odds
The former New York mayor's name was also floated back in 2016, but his odds are down from 33/1 since then.
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Ben Shapiro - 33/1 Odds
Conservative pundit Ben Shapiro has suggested he may stage a run for president in 2020. If we know one thing about his possible candidacy, it's that Rosie O'Donnell won't be stumping for him.
Kirsten Gillibrand - 33/1 Odds
The New York senator pushed back hard at Trump after he suggested that she was a "flunky" who "would do anything" for campaign contributions.
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Mark Zuckerberg - 33/1 Odds
The Silicon Valley CEO disputed Trump's tweet that Facebook was biased against him, but has been focusing his attention on eliminating Russian trolls' influence over the site.
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Michelle Obama - 33/1 Odds
“Why don’t you want our kids to have good food at school? What is wrong with you and why is that a partisan issue," the former first lady asked of President Trump, just one instance of how she's challenged the current administration.
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Cory Booker - 25/1 Odds
Currently only 48, Booker is one of several young democratic hopefuls who could challenge Trump in 2020.
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Elizabeth Warren - 20/1 Odds
Elizabeth Warren is still a popular candidate, but the list of young, Democratic contenders is deep.
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Bernie Sanders - 14/1 Odds
The Vermont senator would be 79 in 2020. Would he run again?
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Mike Pence - 14/1 Odds
The odds for Trump's VP are predictably the best among other Republican contenders.
Face the Nation
Kamala Harris - 12/1 Odds
The first-year senator from California has earned a lot of points in the last year thanks to her persistence in grilling Jeff Sessions in front of Congress.
Oprah's odds rocketed up after her inspiring Golden Globes speech, and her odds have improved from January 8 when she was listed at 20/1, but it's still anyone's guess as to whether she'll actually run.
See who may throw their hat in the ring for the White House and learn their chances of winning
Oprah Winfrey's Golden Globes speech inspired stars, including Meryl Streep, to endorse their candidate -- even though the entertainment mogul isn't officially running... yet. With the next election cycle on the horizon, bookmakers are asking who might challenge President Trump in 2020. The website betonline.ag shared its current odds on who will next win the White House.