Univision reportedly wants to unload Fusion Media Group, suite of websites it acquired in $135 million Gawker Media fire sale
- Univision is reportedly considering selling Fusion Media Group, which comprises several English-language digital properties including Gizmodo, Lifehacker, and Deadspin, The Wall Street Journal reported on Friday.
- The move comes roughly two years after Univision purchased assets belonging to what was then known as Gawker Media for $135 million. It happened on the heels of that company's 2016 bankruptcy filing.
- Univision, the biggest Spanish-language TV broadcaster in the US, originally purchased the suite of popular websites as part of an effort to reach younger audiences.
Univision may be looking to sell off some of the digital assets it acquired as part of its 2016 purchase of Gawker Media, The Wall Street Journal reported on Friday.
The company is said to be looking to unload Fusion Media Group, which comprises several popular websites, including Gizmodo, Lifehacker, Deadspin, and others, The Journal said. A Univision representative did not immediately respond to Business Insider's request for comment.The broadcaster previously sought to unload a minority stake in Fusion Media Group last fall.
Univision acquired the websites when it bought Gawker Media for $135 million in 2016. Gawker Media went up for auction that year after it filed for bankruptcy. At the time, Univision, the biggest Spanish-language broadcaster in the US, saw the suite of digital properties as a way to diversify and reach younger audiences.
The Journal notes that Univision's move to sell Fusion Media Group also follows disappointing financial results posted earlier this year, which prompted the company to ditch plans to go public.