Univision Communications Inc. now solely owns Fusion, its first English-language media effort.
The company announced Thursday an agreement with The Walt Disney Co.’s ABC to purchase its stake in what was a joint venture created in 2013. Negotiations for the deal began in December of last year. Terms of the final agreement were not disclosed.
With this restructuring, Univsion has created the Fusion Media Group which will include Fusion, a 24-hour English-language news and lifestyle TV and digital network, along with various multi-platform properties such as The Onion, A.V. Club, and Univision Digital.
Univision is a leading content creator for the Hispanic and cross-cultural audience in the U.S. The company reports that 44 percent of millennials are considered multicultural.
Disney has put a larger focus on millennial viewers – and “becomers” – the generation coming up after them – with investments in youth-oriented properties such as Shane Smith’s Vice Media, YouTube video network Maker Studios, and its recent rebranding of the ABC Family Network, which is now Freeform.
For reprint and licensing requests for this article, CLICK HERE.