<insert ¡Ay, caramba! joke here>
Univision's controlling stake also gives it control over The Clickhole and the AV Club.
The company's explanation of its acquisition is the normal anodyne corp-speak, without much of a hint of why this actually makes sense.
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.
"Comedy is playing an expanding role in our culture as a vehicle for audiences to explore, debate, and understand the important ideas of our time," said Isaac Lee, Chief News and Digital Officer of Univision and CEO of Fusion. "It has also proven to be an incredibly engaging format for millennial audiences, and is expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English. The Onion has been, and continues to be, a leading force of this phenomenon of intellectual, social, cultural and satirical commentary online. As we did with the acquisition of The Root in 2015, with Onion Inc. we are expanding our role as a go-to source for digitally-connected, diverse audiences. 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."
Univision makes investment in "The Onion"
[Univision]
