Univision Communications Inc. has formally initiated the process of exploring the sale of Gizmodo Media Group and The Onion, the company announced today. Selling the companies would allow UCI to “focus on its core assets” while giving each media company the chance to “grow under new ownership,” Univision said.
Rumors have swirled recently about a possible sale, after layoffs and departures from high-level employees. Univision executives reiterated in May that the company was going through a “business review,” cutting costs and laying off employees.
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