Univision Buys Stake In 'The Onion' To Increase Millennial Audience

Univision makes headlines Tuesday morning after it's been revealed that the Spanish-language media company has purchased a minority stake in popular satire and humor website "The Onion." Univision Communications' effort is to attract younger consumers, reports Variety.

“Comedy is playing an expanding role in our culture as a vehicle for audiences to explore, debate, and understand the important ideas of our time,” said Isaac Lee, chief news and digital officer of Univision and chief executive of Fusion, according to the magazine. “It has also proven to be an incredibly engaging format for millennial audiences, and is expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English.”

NPR reports that Univision will acquire 40 percent. The purchase, according to the article, "includes the site, its influential sister popular-culture outfit The A.V. Club, the social media satire site Clickhole, and various book and video projects. Univision also will have the right to buy the humor company outright."

The business move follows reports that ABC is ready to cut ties with Fusion, a joint-venture between the Disney-ABC Television Group and Univision Communications that launched in 2013 targeting English-speaking millennials. However, NPR reports that Onion CEO Mike McAvoy stated that Fusion "would play a key role in the site's future."