This is no laughing matter for Univision: The media company is being sued for $2 million by the former financial advisor for comedy website The Onion over breach of contract.
GCA Advisors claims its owed after being contracted by The Onion to help it with a potential deal in 2013. According to the lawsuit, filed last week in New York, The Onion agreed to pay a “base fee” of $2 million if a deal was reached during GCA’s time working for the site, or within 12 months after its contract expired.
The Onion terminated its contract with GCA Advisors in April 2015. On January 15, 2016, a 40.5 percent controlling interest in the site was sold to Univision for $27.1 million.
Instead of paying GCA, the lawsuit claims Univision deliberately ignored its fees and awarded another firm after the deal closed.
“Although Univision knew that its purchase of a 40.5 percent interest in The Onion constituted ‘a merger, business combination or other similar change of control transaction’ under the Agreement, it intentionally prevented the payment of the Transaction Fee under the Agreement to GCA, and diverted that payment to another company,” said GCA in its lawsuit.
GCA is suing Univision for breach of contract and The Onion for “tortious interference.”
The lawsuit comes a month after Univision said it’s looking to offload Gizmodo Media Group (formerly Gawker Media) and The Onion.
Pamela Chelin contributed to this report.
10 Most Shocking Russian Troll Posts on Facebook and Instagram, From Hillary Clinton to Police Brutality (Photos)
The U.S. House Intelligence Committee on Thursday released more than 3,500 advertisements and posts spread by Russian trolls before and after the 2016 U.S. election. Below is a look at 10 of the most shocking examples that stood out from Congress's reveal.
House Intelligence Committee
Many posts pushed the narrative that Hillary Clinton would confiscate guns if she were elected President.
House Intelligence Committee
This graphic meme painted cops as KKK members attacking a young black child.
House Intelligence Committee
Only "sissies" and other undesirables wouldn't support Donald Trump, many of the memes said.
House Intelligence Committee
President Obama was a "pawn" and "traitor" in the hands of "Arabian Sheikhs," said one 2016 ad.
House Intelligence Committee
The "Black Matters US" page touched on hot button issues like police shootings.
House Intelligence Committee
The "Army of Jesus" page shared a bible verse, along with this meme.
House Intelligence Committee
Russian trolls also used Instagram to spread sponsored political memes.
House Intelligence Committee
The "Blacktivist" page routinely shared memes on Colin Kaepernick and other football players kneeling during the national anthem.
House Intelligence Committee
"Heart of Texas" routinely posted on "Killary Rotten Clinton," and threatened to secede from the union if she won the election.
House Intelligence Committee
The "Being Patriotic" page labeled ex-cons as "Obama voters."
House Intelligence Committee
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Congress just released 3,500 posts touching on a myriad of topics
The U.S. House Intelligence Committee on Thursday released more than 3,500 advertisements and posts spread by Russian trolls before and after the 2016 U.S. election. Below is a look at 10 of the most shocking examples that stood out from Congress's reveal.