Univision Communications Inc. is planning to sell subsidiary Fusion Media Group LLC as part of restructuring efforts following a leadership change, The Wall Street Journal reported July 6, citing people familiar with the matter.
Fusion Media Group's potential sale came after a business review by Boston Consulting Group recommended cuts of about US$200 million across Univision, the publication wrote. The review also suggested combining the company's digital assets with those of Fusion Media.
In June, Univision appointed Vincent Sadusky CEO, succeeding Randy Falco, who left after Univision Holdings Inc. asked to withdraw its IPO due to prevailing market conditions.
Fusion Media, which operates separately from Univision, houses English-language digital properties that include Gizmodo, The Onion and Deadspin.