Gizmodo Media Group and The Onion acquired by a private equity firm
Great Hill Partners, a private equity firm, today announced it has acquired the Gizmodo Media Group and The Onion from Univision Communications Inc.
Great Hill Partners, a private equity firm, today announced it has acquired the Gizmodo Media Group and The Onion from Univision Communications Inc.
The new company will be rebranded as G/O Media Inc. and will be led by James Spanfeller, who will also be an investor in the company.
According to Great Hill Partners, G/O Media brands reach more than a third of all Americans online each month, attracting approximately 100 million unique visitors. Website categories include technology (Gizmodo), car culture (Jalopnik), modern women’s interests (Jezebel), sports (Deadspin), life tips and hacks (Lifehacker), gaming (Kotaku), and African American news and culture (The Root), and The Onion, which includes The A.V. Club and ClickHole.
“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 Spanfeller. “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. G/O Media is already the leader among digital media companies speaking to the 10-to-34 year-old market, and we are confident and excited to see that lead expand.”
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