Aiming to use humor to boost its audience, U.S. broadcasting group Univision said Tuesday it was acquiring a stake in the satirical news group The Onion.
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The purchase was reported previously by NPR, which suggested Univision’s stake comprised about 40% of the company. “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”. NPR has also obtained a memo from the CEO of The Onion announcing the deal to staffers.
Univision also jointly owns Fusion, a cable and digital news network aimed at millennials, with Walt Disney Co. The Onion, which in addition to its eponymous site includes serious pop culture outlet The AV Club and bastion of painful truth Clickhole, has been on market since at least November 2014. He added that comedy is “expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English” and so it is a good time for Univision to become invovled in The Onion.
And it isn’t Univision’s first digital foray.
And with the political season upon us-Hispanic voters are among the most sought-after demographic by candidates-The Onion has been hitting both sides of the aisle hard with articles like Rubio Refutes Claim He Soft On Immigration By Dragging Undocumented Worker He Knocked Out Cold Onto Stage and Out-Of-Control Hand Gesture Sends Bernie Sanders Tumbling Off Stage. McAvoy says it has been searching for a year for a “partner” to help it grow.
Since The Onion was founded in 1988 in as a print publication in Wisconsin, it has rolled with the punches that have taken out many other news sources.
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Much of The Onion’s profits arrive from Onion Labs, its division that makes “sponsored content” videos – comedic in affect but meant to reinforce a brand’s underlying advertising message or qualities. “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”.
