Great Hill Partners, a growth-oriented private equity firm, acquired the Gizmodo Media Group and The Onion, a collection of premium digital content producers, from Univision Communications Inc.
The amount of the deal was not disclosed.
The combined assets will form a new company named G/O Media Inc., which that will be led by digital content industry veteran James Spanfeller. He will also be a significant investor in the company.
G/O Media brands reach more than a third of all Americans online each month, attracting approximately 100 million unique visitors. The company’s collection of digital-first brands serve young, diverse influencers with content that reflects their values and passions, including category-leading sites focused on:
– technology (Gizmodo),
– car culture (Jalopnik),
– modern women’s interests (Jezebel),
– sports (Deadspin),
– life tips and hacks (Lifehacker),
– gaming (Kotaku), and
– African American news and culture (The Root), and
– The Onion, which includes The A.V. Club and ClickHole.
Spanfeller, past Chairman of the IAB and longtime executive board member of Digital Content Next (DCN), played a key role as CEO in building Forbes.com to market leadership and most recently built a native digital content company from the ground up that featured The Daily Meal and The Active Times, which he successfully sold to Tronc Inc. in December 2016.
FinSMEs
08/04/2019