The 2019 Gizmodo (owners of Kotaku) sale, troubled media collection sold again.

Discussion in 'General Gaming Discussion' started by FAST6191, Apr 9, 2019.

  1. FAST6191
    OP

    FAST6191 Techromancer

    pip Reporter
    22
    Nov 21, 2005
    United Kingdom
    So it seems Gizmodo*, who in turn was formed from the remains of Gawker a few years back, has been sold to an investment group ( https://www.greathillpartners.com/portfolio/ ) for "an undisclosed sum", though one most would wager good on being far far less than the $135 million Univision paid a couple of years back (some estimates say maybe just 50 million though who knows). Though with a 20 million dollar operating loss... yeah.

    They do also own a stake in the Onion, a long time and much liked satirical news site, but I am not sure what goes here. Univision were looking to get rid of their English assets and some were also reporting it is part of the deal.

    https://techcrunch.com/2019/04/08/great-hill-partners-acquires-gizmodo/
    https://edition.cnn.com/2019/04/08/media/univision-sells-gizmodo/index.html
    https://www.wsj.com/articles/great-hill-partners-agrees-to-acquire-gizmodo-media-group-11554729398

    It is has been on the cards for a little while now.
    https://arstechnica.com/gaming/2018...on-wants-to-sell-its-gawker-onion-portfolios/


    *the history of it all is quite ridiculous but here goes

    Univision (an immensely popular Spanish language network) and Disney-ABC joint founded a network called Fusion. Disney's stake was bought out in 2016, but before what follows.
    Also in 2016 they beat out an offer from IGN's parent company for the remains of gawker (gawker had been sued into oblivion by the superstar wrestler Hulk Hogan, who was being bankrolled by Peter Thiel in revenge for an earlier article about him) then purchased the non gawker.com (which itself has had an interesting time of things since then) parts of the gawker brand, most notably for most around here this includes the Kotaku gaming site. One of those properties was a science/tech site Gizmodo and thus all were stuck under Gizmodo as a sub group within Univision's Fusion Media Group.

    It is now to be known as G/O Media and will be headed up by a former forbes.com (forbes is an investment/economics type media group, though closer to a lifestyle magazine than something you are likely to find stock tables being the focus for) lead guy called Jim Spanfeller.

    With said 20 million loss hanging over their heads then many are predicting (even more) layoffs, with there also being talk of more dynamic advertising and possibly some kind of paywall content (know your market and all that).

    List of properties
    Deadspin, Earther, Gizmodo, io9, Jalopnik, Jezebel, Kotaku, Lifehacker, Splinter News, The Inventory, and The Root.

    It gets even more complicated with the international divisions (the UK arm of many of those is run by mega media group Future PLC that have their own crazy long list https://www.futureplc.com/brands/ ) but I will leave it there for now as I have no clue what goes there.

    Personally I view Kotaku as complete and utter rag, give or take a handful of occasionally insightful stories, and part of the mega incestuous "lifestyle magazine space" (even more so as it applies to gaming stuff**) so I am not going to worry too much about not getting quality news any more. It is however a lot of money being thrown around and lost so I will note it here at least.

    **If you like you can have a little clicky and see how few own so many
    https://www.gamer-network.net/websites
    https://www.cbsinteractive.com/brands
    https://www.ziffdavis.com/ (technically owned by great hill, who just bought this, these days, thus they could be said to have got it in the end). They were also the ones to shutter GameSpy and 1up after the acquisition of IGN (which owned them), and in doing so shutter the DS and Wii online games in case you were thinking this sort of buyout never has any effects on you.
    https://www.enthusiastgaming.com/content-media/
    https://www.futureplc.com/brands/
    https://www.evolvemediallc.com/

    Edit. For the above then in order
    Warning: Spoilers inside!
     
    Ryccardo likes this.
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