SATIRICAL NEWS SITE The Onion – known for headlines like ‘World Death Rate Holding Steady at 100 Percent’ – has been valued at half a billion dollars, more than most of the news outlets it exists to mock.
The biggest Spanish-language broadcaster in the US, Univision Communications, announced it has taken a 40% and controlling stake in the The Onion for $200 million (€183 million).
The deal, which also includes sister sites The A.V. Club and ClickHole, values the 28-year-old publisher, which started as a newspaper from two college students in Wisconsin, at $500 million (€458 million).
Univision has already been dabbling in online media, last year buying The Root – a site targeted at African-American readers – as it chases a broader audience.