Univision Communications Inc. is considering selling its Fusion Media Group, according to a Wall Street Journal report. Fusions properties include websites Gizmodo, Deadspin and The Root, among others, and it has a stake in the parent company of The Onion.
Univisions exploration of the sale comes amidst a companywide restructuring following a change in leadership. The WSJ report cites people familiar with the matter.
Deadline reported yesterday that Univision is looking to reduce the staff at The Onion by around 15% as it implements cuts across the company, multiple sources confirmed. The privately held company is about a month into the tenure of new CEO Vince Sadusky, who took the role after an eventful period during which Univision pulled plans for an IPO and retained a consultant to help it reassess its operations.
Univision was courting a younger demographic when it began assembling its digital assets under former CEO Randy Falco. A source told Deadline that the Onion reductions could be a prelude to a sale. Univision declined to comment on the matter.