Univision Communications Inc. (UCI), the leading media company serving Hispanic America, and Onion Inc., a digital media company with comedy brands that include The Onion, the nation’s leading comedy and news satire brand, today announced that UCI’s digital-arm is a minority investor in Onion Inc. Terms of the transaction were not disclosed.
The Onion is a complementary extension of UCI’s Spanish- and English-language digital portfolio, broadening the Company’s multicultural, digital footprint and its reach with a highly coveted millennial audience. With more than 25 million engaged monthly uniques on Onion Inc.’s platform, UCI will expand its overall digital presence in multicultural, millennial focused content with this transaction.
While Onion Inc. will operate independently, maintaining the integrity of the brand and editorial voice, UCI will have oversight of Onion Inc. to leverage Univision Digital’s distribution, resources and media expertise to expand the exposure of the brand. In particular, Univision Digital will work with Onion Inc.’s brands to explore new content opportunities, including short- and long-form formats for each Onion brand across digital and linear mediums.
“Comedy is playing an expanding role in our culture as a vehicle for audiences to explore, debate, and understand the important ideas of our time,” said Isaac Lee, Chief News and Digital Officer of Univision and CEO of Fusion. “It has also proven to be an incredibly engaging format for millennial audiences, and is expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English. The Onion has been, and continues to be, a leading force of this phenomenon of intellectual, social, cultural and satirical commentary online. As we did with the acquisition of The Root in 2015, with Onion Inc. we are expanding our role as a go-to source for digitally-connected, diverse audiences. Including Onion Inc. as part of our portfolio is a great fit for and a significant step forward in our digital strategy as we continue to expand the ways we entertain and inform millennial and multicultural audiences.”
“Onion Inc. has remained successful by putting editorial first. We're excited to partner with Univision, a company that understands and appreciates that foundation, and that can provide additional resources, expertise, and opportunity for our talented staff,” said Mike McAvoy, president and chief executive officer at Onion Inc