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NEW YORK & CHICAGO & BOSTON – (BUSINESS WIRE) – Great Hill Partners, a leading private equity firm focused on growth,
announced today that it has acquired the media group Gizmodo and The Onion, a
collection of producers of premium digital content, from Univision
Communications Inc. Combined assets will form a new named company
G / O Media Inc. ("the company") to be led by digital content
veteran of the industry, James ("Jim") Spanfeller, who will also be a
important investor in society. Financial conditions of the private sector, all
equity transaction were not disclosed.
G / O Media brands each reach more than one-third of all Americans online
months, attracting around 100 million unique visitors. the
The company's first digital brand collection serves young and diverse products.
influencers whose content reflects their values and passions,
including leading sites in the technology-driven category (Gizmodo), the car
culture (Jalopnik), the interests of the modern woman (Jezebel), sport
(Deadspin), life tips and hacks (Lifehacker), games (Kotaku), and
African-American news and culture (The Root), and The Onion, which
includes A.V. Club and ClickHole.
"This opportunity comes at a time when the entire category of digital media
begins to be recognized again for its unique ability to respond to
content and the distribution needs of consumers and advertisers ", said
Spanfeller. "As the main player in our space, G / O Media is in a
ideal position to capitalize on this dynamic, and I look forward to
collaborate with a great team that has an incredible journey to
expand our reach, add value to our advertisers and enrich our
the lives of visitors. G / O Media is already the leader in digital media
companies that target the market of 10 to 34 years, and we are confident
and excited to see this advance develop. "
Spanfeller, former president of the IAB and long-time executive board member
Digital Content Next (DCN), has been recognized as a leader in the sector
digital content space. He played a key role as CEO in the construction
Forbes.com at the head of the market and most recently built a native digital
content company from the ground that presented The daily meal
and Active times, that he sold successfully to Tronc Inc. in
December 2016.
Great Hill Partners has extensive media and digital experience
media sectors, with a successful experience in investing and adding
like companies like Ziff Davis, IGN, Momondo Group, Educaedu,
Legacy.com, Action Media, All Websites (AWL), BuscaPé.com,
Recruiting.com, Lady Broadcasting and Palm Beach Broadcasting.
"From our experience across the digital media landscape, we know that it is
It's not every day that an attractive suite of digital media content becomes
available with strong brand recognition to consumers and advertisers,
and a set of engaged vertical audiences that together are larger than
Vox, BuzzFeed or Vice, "said Chris Gaffney, Managing Partner at Great
Hill Partners. "We are excited about growth and see an excellent opportunity to
on a larger scale a producer of high quality content led by an experienced
director of digital media like Jim. "
Sidley Austin LLP has been a legal advisor to Great Hill Partners.
About the Gizmodo Media Group and the Onion
Gizmodo Media Group
and The Onion reach more than one-third of all Americans online each month
with about 100 million unique visitors, including its extensive network
network. This collection of first digital brands is serving young, diverse
influencers whose content reflects their shared values and passions,
including leading sites in the technology-driven category (Gizmodo), the car
culture (Jalopnik), the interests of the modern woman (Jezebel), sport
(Deadspin), Lifestyle (Lifehacker), Games (Kotaku) and African Culture
American News and Culture (The Root), as well as E-Commerce
(deals.kinja.com), and The Onion, which includes The A.V. Club and
ClickHole.
About Great Hill Partners
Great Hill Partners is a
Boston-based private equity firm that raised more than $ 5 billion in
commitments from the beginning to finance the acquisition,
recapitalization or expansion of growing businesses in a wide range of
sectors in the business-to-business sectors and between mainstream enterprises
software, financial and health technologies, digital media,
Electronic commerce and Internet infrastructure. Great Hill targets investments
from $ 25 million to $ 200 million. For more information, visit www.greathillpartners.com.
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