Univision Communications Inc. (UCI) announced it has entered into an agreement to acquire digital media assets as part of the bankruptcy proceedings of Gawker Media Group, Inc. and related companies that produce content under a series of original brands that reach nearly 50 million readers per month, according to comScore. UCI will acquire the digital media assets for US$135 million, subject to certain adjustments, and these assets will be integrated into Fusion Media Group (FMG), the division of UCI that serves the young, diverse audiences that make up the rising American mainstream. The deal, which will be accounted for as an asset purchase, includes the following digital platforms, Gizmodo, Jalopnik, Jezebel, Deadspin, Lifehacker and Kotaku. UCI will not be operating the {Gawker.com} site. With this strategic acquisition, FMGs digital reach is expected rise to nearly 75 million uniques, or 96 million uniques when including its extended network. The acquisition will further enrich FMGs content offerings across key verticals including iconic platforms focused on technology (Gizmodo), car culture (Jalopnik), contemporary womens interests (Jezebel) and sports (Deadspin), among others. The deal builds on UCIs recently announced creation of FMG and investments in FUSION, The Root and The Onion, which includes The A.V. Club and ClickHole. Fusion Media Group is focused on serving Americas diverse youth with digital-first brands that reflect their values and passions, authentically. I expect the addition of these digital-first media assets will help FMG exceed the demands of the young, cross-cultural influencers we serve, said UCIs Chief News, Entertainment and Digital Officer, Isaac Lee. President and Chief Operating Officer of FMG, Felipe Holguin added: The addition of these iconic digital-first brands give the Fusion Media Group an inimitable opportunity to scale across relevant content verticals and continue to serve key passion points for our audiences.
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