Of course the first thing you are probably wondering is, could this be a joke? Apparently not. The next question you might ask is, why? NPR first reported that Univision is taking a 40% stake in the satirical website. They also have the right to buy the company outright.
MediaPost got hold of an internal memo written by The Onion CEO Mike McAvoy, to his employees, which said, “Univision is excited to help Onion Inc. grow, and to provide the resources to both support our long-standing mission and fund new initiatives. They’ll help us keep the foundation strong and to build great new things on top of it. As an independent media company, we’ve always been forced to run a tight financial ship, which has made us smart and lean, but not always ready to invest in the great new ideas that we come up with.”
