Univision Communications said it made an investment in the company that owns The Onion, the comedy and news satire site.
Terms of the deal were not disclosed. One published report said Univision obtained a 40% stake in Onion Inc.
The Onion will operate independently to maintain its editorial voice, while Univision will leverage its distribution and resources to expand the site’s exposure.
“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."
Read more at B&C.