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Univision invests in digital media company The Onion
MUMBAI: Univision, a media company serving Hispanic America, and Onion, a digital media company with comedy brands that include The Onion, a US comedy and news satire brand, have announced that UCI’s digital arm is a minority investor in Onion.
Terms of the transaction were not disclosed.
The Onion will serve as a complementary extension of UCI’s Spanish- and English-language digital portfolio, broadening the company’s multicultural, digital footprint and its reach with a highly coveted millennial audience.
With more than 25 million engaged monthly uniques on Onion Inc.’s platform, UCI will expand its overall digital presence in multicultural, millennial focused content with this transaction.
While Onion Inc. will operate independently, maintaining the integrity of the brand and editorial voice, UCI will have oversight of Onion Inc. to leverage Univision Digital’s distribution, resources and media expertise to expand the exposure of the brand.
In particular, Univision Digital will work with Onion Inc.’s brands to explore new content opportunities, including short- and long-form formats for each Onion brand across digital and linear mediums.
“Onion Inc. has remained successful by putting editorial first. 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,” said Onion president, CEO Mike McAvoy.