Univision exploring sale of Gizmodo Media Group and The Onion

Univision Communications Inc. (UCI) announced that it has initiated a formal process to explore the sale of the assets comprising the Gizmodo Media Group (GMG) and The Onion.
According to the company, the transaction will allow UCI to focus on its core assets and further strengthen its 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.
The GMG digital portfolio includes sites Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther and Jalopnik and The Onion portfolio includes, The Onion, Clickhole, The A.V. Club and The Takeout.
The company said in a press release “there is no assurance that the process to explore the sale of these assets will result in any transaction or the adoption of any other strategic alternative”.