EGN NEWS DESK
G/O Media introduced on Thursday that it had offered The Onion, a satirical information web site, to a bunch of digital media veterans.
The Onion, which began in 1988 in Wisconsin as a weekly satirical newspaper and later turned an internet site, is thought for its parodies of present occasions. For the final decade, it has republished the identical headline after almost each mass capturing: “‘No Way to Prevent This,’ Says Only Nation Where This Regularly Happens.”
The web site is the newest to be shed by G/O Media, which nonetheless publishes a handful of stalwart web manufacturers like Gizmodo, The Root and Quartz. In current years, the corporate offered off Jezebel, Lifehacker, Deadspin and the A.V. Club.
In an electronic mail to G/O Media workers that was obtained by The New York Times, Jim Spanfeller, the chief govt, stated the corporate was “present process an in depth overview of our portfolio with the intention of coring right down to our main websites when it comes to viewers and revenues.” He stated G/O Media had agreed to promote to “a brand new Chicago-based agency known as Global Tetrahedron.”
“This firm is made up of 4 digital media veterans with a profound love for The Onion and comedy-based content material,” Mr. Spanfeller wrote. “The web site’s new house owners have agreed to maintain The Onion’s complete workers intact and in Chicago, one thing we insisted be a part of the deal.”
Mr. Spanfeller didn’t specify the worth of the deal, and a spokesman for G/O Media stated he had no additional particulars.
The title Global Tetrahedron is, in true Onion vogue, a winking reference to a sinister fictional firm featured within the guide “Our Dumb Century,” which was written by The Onion’s workers and revealed in 1999.
The real-life Global Tetrahedron is backed by Jeff Lawson, a co-founder and former chief govt of the expertise communications firm Twilio, in line with three individuals accustomed to the matter in addition to company filings. The group additionally includes Ben Collins, a senior reporter from NBC News, in line with these individuals.
Noah Shachtman, the previous editor in chief of Rolling Stone, has suggested on the mission, in line with two individuals with information of the deal.
G/O Media was shaped in 2019 by the non-public fairness agency Great Hill Partners after it purchased a group of internet sites that had been as soon as a part of Gawker Media.
