G/O Media announced Thursday that it had sold The Onion, a satirical news site, to a group of digital media veterans. CEO Jim Spanfeller said G/O Media had agreed to sell to “a new Chicago-based firm called Global Tetrahedron.” (NYT)
The New York Times first reported the news of the purchase, later revealing that the buying group was formed by former NBC News reporter (and Daily Beast editor) Ben Collins, along with Twilio co-founder Jeff Lawson. (The Daily Beast)
“This company is made up of four digital media veterans with a profound love for The Onion and comedy-based content,” Spanfeller wrote. “The site’s new owners have agreed to keep The Onion’s entire staff intact and in Chicago—something we insisted be part of the deal.” (Business Insider)
Longtime fans may recognize the name Global Tetrahedron from The Onion’s 1999 book, Our Dumb Century. In the book, Global Tetrahedron is a small company that becomes an evil conglomerate. (Mediaite)
G/O, which is owned by private equity firm Great Hill Partners, has parted with many brands in its once wide-reaching digital portfolio. Last year, it sold lifestyle website Lifehacker to Ziff Davis. Paste Media has acquired feminist-focused brand Jezebel, political news site Splinter and pop-culture site The A.V. Club. G/O sold Deadspin to Lineup Publishing and The Takeout to Static Media. (Axios)