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    Univision unloads Gizmodo, The Onion to private equity firm

    By SHOOTUpdated:No Comments1668 Views
    In this June 14, 2006, file photo a journalist holds a microphone bearing the Univision logo in Los Angeles. Univision is selling Gizmodo, The Onion and other English-language sites to the private equity firm Great Hill Partners. Terms were not disclosed. The Spanish-language broadcaster bought much of what was then known as Gawker Media for $135 million in 2016 after the gossipy, confrontational media company lost a privacy suit against Hulk Hogan.(AP Photo/Damian Dovarganes, File)

    By Tali Arbel, Business Writer

    NEW YORK (AP) --

    Univision has sold tech site Gizmodo, satirical-news hub The Onion and other English-language sites to the private equity firm Great Hill Partners. Terms were not disclosed.

    The Spanish-language broadcaster bought much of what was then known as Gawker Media for $135 million in 2016 after the gossipy, confrontational media company lost a privacy suit against Hulk Hogan. (The original Gawker.com has a different owner. It is being relaunched by another digital media company, Bustle.)

    Just a few years ago, Univision was investing in English-language digital sites aimed at young people. It had bought The Onion in January 2016 and African-American news site The Root in 2015.

    But the strategy didn't turn out well. The sites were not profitable and the company has refocused on Spanish TV. Univision, based in New York, put them up for sale last summer.

    Several digital-media companies have recently run into trouble. For example, BuzzFeed laid off workers to help it become profitable, while Mic sold itself to Bustle after firing most of its employees. The online-ad business is dominated by tech giants Google and Facebook. Amazon is also encroaching on that space.

    Great Hill said Monday that it's calling its new media company "G/O Media." The collection of sites also includes the female-focused Jezebel, sports site Deadspin and pop-culture site "A.V. Club." James Spanfeller, a digital-media veteran who is the former Forbes.com CEO, will lead the company and is also a "significant" investor in it.

    Great Hill has previously invested in media companies, including Ziff Davis, the publisher of PCMag.com, which it sold in 2012.

    Tags:GizmodoGreat Hill PartnersThe OnionUnivision



    Ex-OpenAI engineer who raised legal concerns about the technology he helped build has died

    Saturday, December 21, 2024
    Suchir Balaji poses for a photo in Hawaii in 2018. Balaji was a former OpenAI engineer and whistleblower who died in November 2024. (Balaji Ramamurthy via AP)

    Suchir Balaji, a former OpenAI engineer and whistleblower who helped train the artificial intelligence systems behind ChatGPT and later said he believed those practices violated copyright law, has died, according to his parents and San Francisco officials. He was 26.

    Balaji worked at OpenAI for nearly four years before quitting in August. He was well-regarded by colleagues at the San Francisco company, where a co-founder this week called him one of OpenAI's strongest contributors who was essential to developing some of its products.

    "We are devastated to learn of this incredibly sad news and our hearts go out to Suchir's loved ones during this difficult time," said a statement from OpenAI.

    Balaji was found dead in his San Francisco apartment on Nov. 26 in what police said "appeared to be a suicide. No evidence of foul play was found during the initial investigation." The city's chief medical examiner's office confirmed the manner of death to be suicide.

    His parents Poornima Ramarao and Balaji Ramamurthy said they are still seeking answers, describing their son as a "happy, smart and brave young man" who loved to hike and recently returned from a trip with friends.

    Balaji grew up in the San Francisco Bay Area and first arrived at the fledgling AI research lab for a 2018 summer internship while studying computer science at the University of California, Berkeley. He returned a few years later to work at OpenAI, where one of his first projects, called WebGPT, helped pave the way for ChatGPT.

    "Suchir's contributions to this project were essential, and it wouldn't have succeeded without him," said OpenAI co-founder John Schulman in a social media post memorializing Balaji. Schulman, who recruited Balaji to his team, said what... Read More

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