Univision reportedly mulling sale of Fusion Media Group – TechCrunch
In response to sources cited by The Wall Avenue Journal, Univision is mulling the sale of the model portfolio that features fashionable websites like Gizmodo, Deadspin, The Root, Lifehacker and a piece of The Onion.
Final yr, the Spanish language broadcaster reportedly tried to dump a 20-percent stake within the firm for $200 million, however in the end failed to search out any takers, on account of “skittish” potential buyers.
All of this comes lower than two years after Univision bought Gawker Media, selecting up the big suite of web sites for $135 million, after the model was felled by a Hulk Hogan lawsuit partially bankrolled by Peter Thiel. The model was then folded into Fusion Media Group, a created 4 months prior when Univision purchased out Disney’s stake in Fusion TV.
The transfer was largely seen as an try and enchantment to a youthful demo by a broadcast firm that has in any other case had bother adapting to present developments. However media is rarely simple, and despite quite a lot of sturdy properties, the acquisition hasn’t precisely righted Univision’s ship.
Final month, Univision introduced that former Media Normal head Vince Sandusky would substitute Randy Falco as CEO, who stepped down shortly after the corporate deserted plans to IPO. In April, the corporate laid off 150 workers as a part of an on-going restructuring.
Univision has but to touch upon the story.
Supply hyperlink – https://techcrunch.com/2018/07/07/univision-reportedly-mulling-sale-of-fusion-media-group/