Univision Communications to Acquire Digital Media Assets from Bankrupt Gawker in USD 135m Deal.
M2 EQUITYBITES-August 18, 2016-Univision Communications to Acquire Digital Media Assets from Bankrupt Gawker in USD 135m Deal
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18 August 2016 - US-based Hispanic America-focused media company Univision Communications Inc. has entered into an agreement to acquire digital media assets as part of the bankruptcy proceedings of Gawker Media Group, Inc. and related companies, Univision said.
UCI will acquire the digital media assets for USD 135m, subject to certain adjustments, and these assets will be integrated into Fusion Media Group, the division of UCI that serves the young, diverse audiences that make up the rising American mainstream.
The deal, which will be accounted for as an asset purchase, includes the following digital platforms, Gizmodo, Jalopnik, Jezebel, Deadspin, Lifehacker and Kotaku.
UCI will not be operating the Gawker.com site.
With this strategic acquisition, FMG's digital reach is expected rise to nearly 75m uniques, or 96m uniques when including its extended network.
The acquisition will add FMG's content offerings across key verticals including iconic platforms focused on technology (Gizmodo), car culture (Jalopnik), contemporary women's interests (Jezebel) and sports (Deadspin), among others.
The deal builds on UCI's recently announced creation of FMG and investments inFUSION, The Root and The Onion, which includes The A.V. Club and ClickHole.
UCI announced the formation of FMG earlier this year as the multi-platform destination for the new, rising American mainstream, delivering content that embodies the audience's shared values and passion points across all platforms.
FMG includes The Root, Flama, Univision Digital, Univision Music, as well as Univision's interest in FUSION, El Rey Network, The Onion, The A.V. Club and ClickHole.
It also includes Story House, a content development and production unit that produces original content for UCI's portfolio of owned networks as well as third party networks and platforms.
Univision Communications is a media company serving Hispanic America.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Aug 18, 2016|
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