La Cebolla

Univision has taken a controlling interest in the satirical publication The Onion:

The Spanish-language media giant Univision Communications announced Tuesday that it had acquired a large stake in The Onion, the comedy and satirical digital media group, as part of the company’s efforts to extend its digital reach and strengthen its portfolio of comedy outlets.

Terms of the deal were not disclosed, but the transaction was said to be for a 40 percent stake, valued at less than $200 million, according to one person briefed on the deal.

“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. “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.”

Univision’s digital portfolio is undergoing a flurry of changes, part of an effort to build its footprint and reach as diverse a group of millennials as possible. News emerged last month that Univision was in talks with the Walt Disney Company to take full control of their joint venture Fusion, the English-language digital news service and cable channel. In November, Univision named Mr. Lee to a new position with responsibility for overseeing digital functions, leading multicultural efforts and creating a music strategy. He also is chief executive of Fusion.

According to NPR 40% is a controlling interest.

I have no f%$#ing clue how Univision plans to make a coherent business plan out of this.

My guess is that they don't have a plan, and notwithstanding promises to have a light touch, management will eventually feel compelled to bring it under the corporate wing, when they don't experience the requisite "Synergies", and then they will ruin it.