 Vincent Sadusky |
Univision, the No. 1 Spanish-language broadcaster in the US, is mulling the sale of Fusion Media Group in a corporate revamp under new CEO Vincent Sadusky.
FMG includes websites Deadspin, Gizmodo, The Root, Lifehacker and an investment stake in The Onion’s parent company.
Univision, according to a Wall Street Journal report, tried to sell a 20 percent stake in FMG for $1B in 2017 but came up empty as potential buyers were skittish about Univision’s management under then CEO Randy Falco.
Sandusky joined Univision in June from Media General, where he was CEO.
Univision invested in the English-language websites to appeal to young bilingual Hispanic-Americans, reported the WSJ.
The potential divestiture of FMG follows a review of Univision operations by the Boston Consuluting Group, which recommended cuts of $200M.
Univision went private in 2007 via a $13.7B leveraged buyout deal engineered by Saban Capital Group, Thomas H. Lee Partners, Madison Dearborn Partners, Providence Equity Partners, TPG and Mexico’s Televisa.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.