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Univision Announces Sale of Gizmodo Media Group and The Onion to Great Hill Partners

By Univision PR Team

Apr 8, 2019

MIAMI, FL and BOSTON, MA– APRIL 8, 2019 – Univision Communications Inc. today announced that it has completed the sale of assets comprising Gizmodo Media Group (GMG) and The Onion to Great Hill Partners, a leading growth-oriented private equity firm. Great Hill Partners became the owner of these assets immediately upon the completion and signing of the deal. GMG and The Onion will form a new company named G/O Media Inc., which will operate as independent assets within the Great Hill Partners portfolio.

Terms of the transaction were not disclosed.

The sale of GMG and The Onion is part of Univision’s go-forward strategy to focus on its core Hispanic media assets and strengthen its position as the No. 1 media company serving U.S. Hispanics, while enabling both GMG and The Onion to capitalize on new opportunities for growth under the ownership of Great Hill Partners.

The GMG digital portfolio includes Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther, and Jalopnik. The Onion portfolio includes The Onion, Clickhole, The A.V. Club, and The Takeout.

“Today’s announcement is the culmination of a very thorough process, as part of Univision’s broader strategic realignment and return to its core strengths in Hispanic media and marketing,” said Vince Sadusky, Chief Executive Officer of Univision. “Our aim from the outset of this process was to sell these assets as one, and we are pleased to have found a terrific buyer in Great Hill Partners that is committed to growing these properties. We are grateful to our colleagues at GMG and The Onion for all of their high-quality journalism and achievements as part of our company and we wish them and Great Hill Partners tremendous success.”

“This opportunity comes at a time when the entire digital media category is beginning to be recognized again for its unique ability to meet the diverse content and delivery needs of consumers and advertisers,” said digital content industry veteran Jim Spanfeller, who will lead G/O Media Inc. “As the largest player in our space, G/O Media is in an ideal position to capitalize on this dynamic, and I am excited to collaborate with a great team that boasts an incredible track record to further expand our reach, add value to our advertisers and enrich our visitors’ lives.”

Morgan Stanley & Co. LLC served as financial advisor to Univision in connection with the sale.

Media Inquiries for Univision:

Jeffrey Schneider, The Lead PR, (212) 584-7829,
jeffrey@theleadpr.com

Erik Borg, The Lead PR, (212) 584-7829,
erik@theleadpr.com


Media Inquiries for Great Hill Partners:

Alex Stanton, Stanton Public Relations, (212) 780-0701,
astanton@stantonprm.com

About Great Hill Partners

Great Hill Partners is a private equity firm that has raised over $5 billion in commitments since inception to finance the expansion, recapitalization, or acquisition of growth companies in a wide range of sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, eCommerce, and internet infrastructure. Great Hill targets investments of $25 million to $200 million.  For more information, visit www.greathillpartners.com.

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Univision Anuncia la Venta de Gizmodo Media Group y The Onion a Great Hill Partners

MIAMI, FL y BOSTON, MA–8 DE ABRIL DE 2019– Univision Communications Inc. anunció hoy que las propiedades que conforman Gizmodo Media Group (GMG) y The Onion son ahora propiedad de Great Hill Partners, una destacada firma privada orientada al crecimiento. Great Hill Partners pasó a ser el dueño de estas propiedades inmediatamente después de que se completaron los detalles del contrato y las partes lo firmaron. GMG y The Onion formarán parte de una nueva compañía llamada G/O Media Inc., que operará como propiedad independiente dentro de la cartera de Great Hill Partners.

No se divulgaron las condiciones de la transacción.

La venta de GMG y The Onion es parte de la estrategia para el futuro de Univision de centrarse en sus propiedades mediáticas principales y dirigidas a los hispanos, fortalecer su posición como la principal empresa de medios de comunicación al servicio de la comunidad hispana en Estados Unidos y permitir a la vez que GMG y The Onion aprovechen nuevas oportunidades de crecimiento con sus nuevos dueños, Great Hill Partners.

La cartera digital de GMG incluye Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther y Jalopnik. La cartera de Onion incluye The Onion, Clickhole, The A.V. Club y The Takeout.

“El anuncio de hoy es la culminación de un proceso exhaustivo, como parte del realineamiento estratégico más extenso de Univision y su retorno a nuestro fuerte en medios y mercadeo para los hispanos”, dijo Vince Sadusky, director ejecutivo de Univision. “Nuestro propósito desde el inicio de este proceso fue vender estas propiedades como una sola, y nos complace haber encontrado un fabuloso comprador, Great Hill Partners, que tiene el compromiso de hacer que estas crezcan. Estamos agradecidos con nuestros colegas en GMG y The Onion por todo el periodismo de alta calidad que produjeron y sus logros como parte de nuestra empresa, y les deseamos muchísimo éxito, como también a Great Hill Partners”.

“Esta oportunidad se produce en un momento en que toda la categoría de medios digitales está recibiendo reconocimiento nuevamente por su capacidad singular de atender las diversas necesidades de contenido y distribución de consumidores y anunciantes”, dijo Jim Spanfeller, veterano del sector de contenido digital que encabezará G/O Media Inc. “Como el mayor protagonista en nuestro entorno, G/O Media está en una posición ideal de aprovechar esta dinámica, y me entusiasma colaborar con un gran equipo de fabulosa trayectoria para aumentar más nuestro alcance, ofrecer mayor valor a nuestros anunciantes y enriquecer la vida de nuestros visitantes”.

Morgan Stanley & Co. LLC fue el asesor financiero de Univision respecto a la venta.

Preguntas de la prensa a Univision:

Jeffrey Schneider, The Lead PR, (212) 584-7829,
jeffrey@theleadpr.com

Erik Borg, The Lead PR, (212) 584-7829,
erik@theleadpr.com

Preguntas de la prensa a Great Hill Partners:

Alex Stanton, Stanton Public Relations, (212) 780-0701,
astanton@stantonprm.com

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