Univision Communications Inc. (UCI) is taking over editorial control, sales and distribution of Fusion, the cable TV/online platform it launched in 2013 as a joint venture with Disney-owned ABC News.
Disney’s intention to sell its stake in the company was first reported in December. The terms of the transaction were not disclosed.
Created to reach the millennial audience, Fusion will now serve as the anchor of the Fusion Media Group, a multi-platform endeavor aimed at what the company calls “the new, rising American mainstream.” Other companies in the group will include The Onion, The Root, The A.V. Club, El Rey Network and Clickhole.
"This is an important time for UCI as we continue to evolve as a company to meet and exceed the demands of the cross-cultural influencers that we serve. Fully integrating Fusion into our portfolio closely aligns with our desire to engage with our growing audience wherever they are, whenever they want and in their language of preference,” said Randy Falco, president and CEO of Univision Communications Inc., via a release. “FMG is extremely well positioned to to reach this young, diverse audience at scale and with passion, irreverence and authenticity.”
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Isaac Lee, chief news and digital officer for Univision, also issued a statement. “The face of America is changing and we are focused on serving a new majority whose influence is rapidly growing – affecting everything from politics and the economy to our culture. Through impactful journalism and smart commentary, our portfolio will serve a rising generation with meaningful content that reflects their values and passions,” said
According to Univision, Fusion currently reaches approximately 27 million people each month across all platforms. In 2015, its website fusion.net saw traffic grow over 305% (10 million monthly unique visitors).