Univision Communications, which runs the largest Spanish-language broadcasting channel in the U.S., bought a controlling stake in The Onion, the company announced Tuesday. The price of the transaction hasn't been made public, but Univision acquired a 40 percent stake in the satirical news media group as well as the right to buy it, NPR reports.
"Comedy is playing an expanding role in our culture as a vehicle for audiences to explore, debate, and understand the important ideas of our time,” said Isaac Lee, Univision chief news and digital officer. "It has also proven to be an incredibly engaging format for millennial audiences, and is expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English."
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