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Fusion Media Group

From Wikipedia, the free encyclopedia

Fusion Media Group
Formerly
Fusion Media Network
(Univision & Disney-ABC)
Division of Univision
PredecessorFusion Media Network
(Co-owned by Univision & Disney-ABC Television Group)
FoundedApril 2016; 4 years ago (2016-04)
Headquarters
Key people
  • Isaac Lee (CEO)
  • Felipe Holguin (Co-President and COO)
  • Camila Jiménez Villa (Co-President and Chief Content Officer)
  • Daniel Eilemberg (President and Chief Content Officer)
Revenue
  • IncreaseUS$63.5 million
April 2019
OwnerUnivision Communications
Number of employees
300
ParentUnivision Communications
DivisionsUnivision Story House
WebsiteUnivision Portfoliio

The Fusion Media Group (FMG; formerly Fusion Media Network[1]) is a division of Univision Communications. The company was launched in April 2016 after Univision bought out Disney's stake in Fusion through the Fusion Media Network joint venture between Univision & Disney-ABC.[2] While Univision is focused on serving Hispanic America in Spanish, FMG is the company's multi-platform, English language division targeting young adults.

Operations

The Root, an online magazine on African-American culture, was acquired by Univision in 2015.[3] It was eventually placed within FMG.

In January 2016, The Onion was acquired, along with its sibling properties.[4]

Univision Story House was introduced in May 2016 as the content development and production unit of Univision, but to be managed by FMG.[5]

In August 2016, FMG acquired the online properties of Gawker Media, excluding Gawker.com, and renamed the company Gizmodo Media Group.[4][6][7][8]

In July 2018, it was reported that Univision plans on selling the Gizmodo Media Group and The Onion.[9] In April 2019, Gizmodo Media Group and The Onion were sold to Great Hill Partners. The sale was completed on April 8, 2019, with Gizmodo Media Group and The Onion being merged to form G/O Media, Inc.[10][11][12]

Brands

FMG includes both online and television properties, with a combined digital reach of around 65.6 million people in May 2016.[13]

Current Assets

  • Fusion TV
  • The Flama
  • Uforia
  • TrackRecord.net
  • Univision Story House

Former assets

References

  1. ^ "Fusion Media Network, LLC: Private Company Information - Bloomberg". www.bloomberg.com.
  2. ^ Steel, Emily (2016-04-21). "Univision Buys Out Disney's Stake in Fusion". The New York Times. ISSN 0362-4331. Retrieved 2016-10-16.
  3. ^ Bond, Shannon (2015-05-21). "Univision buys African-American news site The Root". Financial Times. ISSN 0307-1766.
  4. ^ a b "Univision's Billionaire Chairman Sets His Sights on the U.S. Election". Bloomberg.com. Retrieved 2016-10-16.
  5. ^ Steinberg, Brian (2016-05-11). "Univision to Launch 'Story House' Production Studio". Variety. Retrieved 2016-10-16.
  6. ^ Calderone, Michael (2016-08-18). "Gawker Media Was Saved, But Gawker.com Is Over". The Huffington Post. Retrieved 2016-10-16.
  7. ^ Spangler, Todd (2016-09-21). "Univision Hires News Corp's Raju Narisetti to Oversee Sites Acquired From Gawker Media". Variety. Retrieved 2016-10-16.
  8. ^ "Univision Hires News Corp Vet to Lead Former Gawker Media Sites". The Hollywood Reporter. Retrieved 2016-10-16.
  9. ^ "Univision Looking to Sell Gizmodo, The Onion". Cablefax. Retrieved 2018-08-08.
  10. ^ Mullen, Benjamin (April 8, 2019). "Great Hill Partners Agrees to Acquire Gizmodo Media Group". Wall Street Journal. Retrieved April 8, 2019.
  11. ^ Hayes, Dade; Hayes, Dade (8 April 2019). "Univision Finalizes Sale Of Former Gawker Portfolio And The Onion To Private Equity Firm Great Hill Partners". Retrieved 9 April 2019.
  12. ^ "Univision Announces Sale of Gizmodo Media Group and The Onion to Great Hill Partners". Univision (Press release). 8 April 2019.
  13. ^ Rodriquez, Rene (2016-07-24). "How a new TV network is trying to hook millennials of all kinds". Miami Herald. Retrieved 2016-10-16.
  14. ^ "UNIVISION COMMUNICATIONS INC. AND SUBSIDIARIES 2019 Second Quarter Reporting Package" (PDF). Univision Communications Inc. - Financial Reports - Quarterly Reports. June 30, 2019.


This page was last edited on 7 June 2020, at 08:41
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