Following approval by a bankruptcy court, Univision Communications formally agreed to acquire digital media assets of Gawker Media Group for $135 million.
Those assets reach 50 million per month but won’t include the sometimes scabrous news site Gawker.com, which is being shut down next week.
The Gawker assets will be merged into Univision’s Fusion Media Group. Univision bought out Disney’s stake in Fusion earlier this year.
Operating Gawker sites, including Gizmodo, Jalopnik, Jezebel, Deadspin and Lifehacker, will raise Fusion’s unique vistors to almost 75 million per month.
“The addition of these iconic digital-first brands give the Fusion Media Group an inimitable opportunity to scale across relevant content verticals and continue to serve key passion points for our audience,” said Felipe Holguin, president and chief operating officer of Fusion Media Group.
Univision, looking to build its digital business, previously invested in The Onion and The Root.
“Fusion Media Group is focused on serving America’s diverse youth with digital-first brands that reflect their values and passions, authentically,” said Univison’s chief news, entertainment and digital officer Isaac Lee. “I expect the addition of these digital-first media assets will help FMG exceed the demands of the young, cross-cultural influencers we serve.”
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.