Univision Makes Investment in New Satire Brand 'The Onion'

Univision Communications Inc. (UCI), the leading media company serving Hispanic America, and Onion Inc., a digital media company with comedy brands that include The Onion, the nation's leading comedy and news satire brand, today announced that UCI's digital-arm is a minority investor in Onion Inc. Terms of the transaction were not disclosed.

The Onion is a complementary extension of UCI's Spanish- and English-language digital portfolio, broadening the Company's multicultural, digital footprint and its reach with a highly coveted millennial audience. With more than 25 million engaged monthly uniques on Onion Inc.'s platform, UCI will expand its overall digital presence in multicultural, millennial focused content with this transaction.

While Onion Inc. will operate independently, maintaining the integrity of the brand and editorial voice, UCI will have oversight of Onion Inc. to LEVERAGE Univision Digital's distribution, resources and media expertise to expand the exposure of the brand. In particular, Univision Digital will work with Onion Inc.'s brands to explore new content opportunities, including short- and long-form formats for each Onion brand across digital and linear mediums.

"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, Chief News and Digital Officer of Univision and CEO of FUSION. "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. The Onion has been, and continues to be, a leading force of this phenomenon of intellectual, social, cultural and satirical commentary online. As we did with the acquisition of The Root in 2015, with Onion Inc. we are expanding our role as a go-to source for digitally-connected, diverse audiences. Including Onion Inc. as part of our portfolio is a great fit for and a significant step forward in our digital strategy as we continue to expand the ways we entertain and inform millennial and multicultural audiences."

"Onion Inc. has remained successful by putting editorial first. We're excited to partner with Univision, a company that understands and appreciates that foundation, and that can provide additional resources, expertise, and opportunity for our talented staff," said Mike McAvoy, president and chief executive officer at Onion Inc.

About Onion Inc.

Onion Inc. comprises the brands The Onion, America's Finest News Source; The A.V. Club, which features insightful pop culture commentary, interviews, reviews, features, and other entertainment-related articles; ClickHole, which features the most clickable, shareable content the internet has to offer; StarWipe, the most trusted source in the completely untrustworthy realm of celebrity gossip; and Onion Studios, a digital video network featuring programming from its existing brands as well as original series.

About Univision Digital

Univision Digital's portfolio and multicultural footprint currently includes Univision.com, the most-visited Spanish language site in the U.S.; The Root, the leading online news, opinion and culture destination for African Americans ; the Univision Creator Network of over 80 Youtube channels; and the strategic investment in Fusion, a 24-hour English-language news and lifestyle TV and digital network targeted at young English-speaking U.S. Hispanics and their peers.

About Univision Communications Inc.

Univision Communications Inc. (UCI) is the leading media company serving Hispanic America. The Company, a leading content creator in the U.S., includes Univision Network, one of the top five networks in the U.S. regardless of language and the most-watched Spanish-language broadcast television network in the country available in approximately 93% of U.S. Hispanic television households; UniMás, a leading Spanish-language broadcast television network available in approximately 87% of U.S. Hispanic television households; Univision Cable Networks, including Galavisión, the most-watched U.S. Spanish-language cable network, as well as UDN (Univision Deportes Network), the most-watched U.S. Spanish-language sports network, Univision tlnovelas, a 24-hour cable network dedicated to telenovelas, ForoTV, a 24-hour Spanish-language cable network dedicated to international news, and an additional suite of cable offerings - De Película, De Película Clásico, Bandamax, Ritmoson and Telehit; Univision Television Group, which owns 59 television stations in major U.S. Hispanic markets and Puerto Rico; digital properties consisting of online and mobile websites and apps, including Univision.com, the most visited Spanish-language website among U.S. Hispanics, UVideos, a bilingual digital video network and Uforia, a music application featuring multimedia music content; and Univision Radio, the leading Spanish-language radio group in the U.S. which owns and operates 67 radio stations including stations in 16 of the top 25 U.S. Hispanic markets and Puerto Rico. UCI's assets also include a minority stake in El Rey Network, a 24-hour English-language general entertainment cable network and a joint venture with Disney/ABC Television Network for Fusion, a 24-hour English-language news and lifestyle TV and digital network. Headquartered in New York City, UCI has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit Univision.net.