US Spanish language TV network Univision is set to take a controlling stake of satirical news site the Onion.
In a headline relatively as absurd as some of the Onion’s output, Univision announced on Tuesday that it will acquire a 40 per cent share of the English-language website.
The Onion will open up new audiences for Univision to reach in its push for a diverse portfolio; just last year it snapped up African-American news outlet The Root and took a slice of news and lifestyle network Fusion.
For an undisclosed amount, Univision will gain access to The Onion’s 10.6 million unique monthly visitors, according to Quantcast data. Much of this audience will be males aged 18 to 34.
As part of the deal Univision will come into stakes in A.V. Club and Clickhole.
The Onion, which was founded in 2003, is headquartered in Chicago.