The Onion could soon be “La Cebolla”

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Univision said the company purchased a 40% stake in The Onion because of comedy’s growing role in our culture “as a vehicle for audiences to explore, debate, and understand the important ideas of our time.” // Image via money.cnn.com

The Spanish-language media giant Univision Communications announced today that it had acquired a large stake in The Onion, the comedy and satirical digital media group, reports The New York Times.

Univision said the move is 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 a 40% stake. The development is just one of many changes Univision has recently undergone, all in an effort to reach as diverse a group of millennials as possible.

[H/T/ NYTimes]


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