 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.
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