Technology news website Gizmodo and satirical news site The Onion have been sold to private equity investors.
American media giant Univision sold both websites as well other English-language sites to Great Hill Partners without disclosing the financial terms of the deal. The Spanish-language broadcaster bought much of what was then known as Gawker Media for $135m in 2016 as part of its strategy investing in websites aimed at young people.
The New York-based company also closed deals involving the The Onion in January 2016 and African-American news site The Root a year earlier.Univision started seeking buyers last July as the websites failed to make a profit just as the company decided to refocus its business towards Spanish TV.
Great Hill Partners said the websites will be owned by a new media company called G/O Media and will be led by former Forbes.com chief executive James Spanfeller.
Gizmodo is terrible.
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