Summary
Gizmodo Media Group was an online media company and blog network formerly operated by Univision Communications (now TelevisaUnivision) in its Fusion Media Group division. The company was created from assets acquired from Gawker Media during its bankruptcy in 2016.[1] In April 2019, Gizmodo and The Onion were sold to private equity firm Great Hill Partners, which combined them into a new company named G/O Media.[2]
 | |
| Company type | Subsidiary |
|---|---|
| Predecessor | Gawker Media |
| Founded | September 22, 2016 |
| Defunct | 8 April 2019 (2 years, 6 months and 17 days) |
| Fate | Acquired by Great Hill Partners, folded into G/O Media |
| Successor | G/O Media |
| Headquarters | New York City, U.S. |
| Parent | Fusion Media Group |
| Subsidiaries | Deadspin Lifehacker Gizmodo Kotaku io9 Jalopnik Splinter The Root Jezebel Earther The Takeout |
History
editUnivision acquisition (2016)
editOn June 10, 2016, Gawker Media filed for Chapter 11 bankruptcy protection after the company was ordered to pay $115 million in compensatory damages and a further $25 million in punitive damages in Bollea v. Gawker.[3]
On August 16, 2016, Univision Communications purchased Gawker for $135 million.[1] The purchase did not include the flagship website Gawker.[1] It included the websites Gizmodo, Jezebel, Deadspin, Kotaku, Jalopnik, and Lifehacker.[4] Univision named the unit Gizmodo Media Group after one of its blogs, Gizmodo, in an effort to distance itself from the Gawker name.[5]
On September 10, 2016, Univision removed six controversial posts from various Gawker Media sites, each with the note: "This story is no longer available as it is the subject of pending litigation against the prior owners of this site."[6]
On September 21, 2016, Raju Narisetti was named as CEO of Gizmodo Media Group.[7][8]
Very Smart Brothas
editOn July 7, 2017, Gizmodo Media Group acquired the blog Very Smart Brothas.[9]
Earther
editIn September 2017, Gizmodo Media Group launched its first new stand-alone site since acquisition from Gawker Media, Earther, devoted to environmental news, with Managing Editor Maddie Stone.[10]
Televisa
editIn December 2017, Gizmodo Media Group announced a partnership with Mexican media conglomerate Televisa to launch Spanish-language editions of websites such as Gizmodo, Deadspin, Kotaku, Jalopnik and Jezebel.[11]
Struggles and sale
editOn May 8, 2018, the GMG Special Projects Desk published an article that highlighted various issues plaguing Univision.[12][13]
On June 28, 2018, The Daily Beast reported that over forty GMG staffers would be taking union-negotiated buyouts, thereby averting layoffs.[14]
On July 10, 2018, Univision announced that it would "explore" the option of selling all of the Gizmodo Media Group and The Onion websites under its ownership.[15]
Great Hill Partners acquisition (2019)
editIn April 2019, private equity firm Great Hill Partners agreed to purchase Gizmodo Media Group and The Onion from Univision.[16] The sale was completed on April 8, 2019, with Gizmodo Media Group and The Onion being combined into a new company named G/O Media.[2][17]
References
edit- ^ a b c "Univision to Buy Gawker Media for $135M". The Hollywood Reporter. Retrieved 2017-01-12.
- ^ a b Hayes, Dade (8 April 2019). "Univision Finalizes Sale Of Former Gawker Portfolio And The Onion To Private Equity Firm Great Hill Partners". Deadline. Retrieved 9 April 2019.
- ^ Balakrishnan, Anita (2016-06-10). "Gawker Media auction starts with Ziff Davis bid amid bankruptcy". CNBC. Retrieved 2017-01-12.
- ^ Tani, Maxwell (June 9, 2017). "10 months ago, Univision bought Gawker in a fire sale, and it's been messy ever since". Business Insider. Retrieved 28 February 2018.
- ^ Villafañe, Veronica. "Univision Rebrands Gawker Media As Gizmodo Media Group; Starts Translating Content For Univision.com". Forbes. Retrieved 2017-01-12.
- ^ Sterne, Peter. "Univision deletes six controversial Gawker Media posts- POLITICO Media". Politico.com. Retrieved 2017-03-15.
- ^ Todd Spangler (2016-09-21). "Univision Hires Raju Narisetti to Run Sites Acquired From Gawker Media". Variety. Retrieved 2017-03-15.
- ^ "Univision Hires News Corp Vet to Lead Former Gawker Media Sites". Hollywood Reporter. 2016-09-21. Retrieved 2017-03-15.
- ^ "Gizmodo Media Group Announces Very Smart Partnership". Associated Press. 2017-07-17.
- ^ "New site aims for 'brutally honest' environmental news". Columbia Journalism Review. 2017-10-03. Retrieved 2018-02-04.
- ^ Univision's Fusion Media Group Strikes Deal With Televisa For Expansion To Mexico - Veronica Villafañe, Forbes, 7 December 2017
- ^ Conger, Kate; Uberti, David; Wagner, Laura (May 8, 2018). "Univision Is A Fucking Mess". Gizmodo Media Group Special Projects Desk. Archived from the original on July 11, 2018.
- ^ Ingram, Matthew (May 9, 2018). "Univision gets broadsided by staff-written critique of its failed strategy". Columbia Journalism Review. Retrieved July 11, 2018.
- ^ Tani, Maxwell (June 28, 2018). "Gizmodo Media's Turmoil Continues: 40+ Staffers Take Buyouts". The Daily Beast. Retrieved July 11, 2018.
- ^ UCI PR Team (July 10, 2018). "Univision to Explore Potential Sale of Gizmodo Media Group and The Onion". Univision. Archived from the original on July 11, 2018.
- ^ Mullen, Benjamin (April 8, 2019). "Great Hill Partners Agrees to Acquire Gizmodo Media Group". Wall Street Journal. Retrieved April 8, 2019.
- ^ "Univision Announces Sale of Gizmodo Media Group and The Onion to Great Hill Partners". Univision (Press release). 8 April 2019.