Univision is gearing up to sell The Onion and Gizmodo Media Group, according to a press release from the company posted on Monday.
The news of the sale follows weeks of layoffs and buyouts at several Univision-controlled publications, including The Onion and Gizmodo Media Group.
Univision said in the statement that it decided to sell the satire website and online media company in order “to focus on [Univision’s] core assets and further strengthen [its] position as the No. 1 media company serving U.S. Hispanics, while enabling both GMG and The Onion even greater opportunities to grow under new ownership."
Univision, a Hispanic media giant, reportedly obtained The Onion and Gizmodo to reach a younger audience.
Univision has been enduring revenue struggles for several years, including issues with monetizing the Gizmodo Media properties. The media company cancelled a plan to go public in March and laid off 150 employees as part of a broad restructuring.
Univision acquired the Gizmodo Media Group properties from Gawker in a bankruptcy auction in 2016.
David Ford, the senior vice president for PR and communications at Fusion Media Group, said Gizmodo and The Onion have no comment on the sale in an email to The Hill.
The Onion portfolio includes Clickhole, The A.V. Club and The Takeout, while Gizmodo Media Group includes Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, Earther and Jalopnik.