Univision Communications Inc. (UCI), the leading media company serving Hispanic America, today announced it will be forming the Fusion Media Group (FMG). FMG will serve as the multi-platform destination for the new, rising American mainstream, delivering content that embodies the audience’s shared values and passion points across all platforms.
Building on the foundation created by FUSION, UCI’s first English-language effort, the company has established a collection of brands that speak with an authentic voice and a convention-breaking, youthful perspective. The Fusion Media Group will include UCI’s interests in FUSION and El Rey as well as The Root, The Onion, A.V. Club, Clickhole, Starwipe, Flama, Univision Digital and Univision Music.
In a related step, UCI has reached an agreement with ABC to become the sole owner of FUSION, the joint venture the two companies launched in October 2013. This move further exemplifies the company’s commitment to serve multicultural audiences across platforms and languages. Effective immediately, UCI will take over ABC’s role in handling distribution and ad sales functions for FUSION’s multi-platform network and will have editorial control. The transition of ownership will happen once the transaction is completed, which is expected to be as soon as reasonably practical. Terms of the transaction are not being disclosed.
Built on the power of diversity, FUSION is a media brand that reaches young, diverse audiences wherever they are with a broad multi-platform effort across television, digital, social and OTT. Since launch, FUSION’s commitment to high-quality journalism has been recognized with over four dozen awards and nominations including: three awards from the National Association of Hispanic Journalists, two GLAAD Media Awards, two Emmy nominations for investigative reporting, and honored with two Livingston Award finalists among others. FUSION currently reaches approximately 27 million people each month across all platforms, and in 2015 its website, FUSION.net, saw traffic grow over 305% (10 million monthly uniques). Additionally, FUSION has a weekly programming block on UniMás, UCI’s second broadcast network, and recently expanded its reach through an agreement with HBO to broadcast a new series, “Outpost”, and a one-hour special helmed by Univision and FUSION News Anchor, Jorge Ramos.
“This is an important time for UCI as we continue to evolve as a company to meet and exceed the demands of the cross-cultural influencers that we serve. Fully integrating FUSION into our portfolio closely aligns with our desire to engage with our growing audience wherever they are, whenever they want and in their language of preference,” said Randy Falco, president and CEO, Univision Communications Inc. “FMG is extremely well positioned to reach this young, diverse audience at scale and with passion, irreverence and authenticity. It will define and lead the zeitgeist of American youth.”
“The face of America is changing and we are focused on serving a new majority whose influence is rapidly growing – affecting everything from politics and the economy to our culture. Through impactful journalism and smart commentary, our portfolio will serve a rising generation with meaningful content that reflects their values and passions. We don’t just understand the audience, we are the audience,” said Isaac Lee, chief news and digital officer, Univision Communications Inc.
Multiculturals are rapidly approaching 40% of the total U.S. population and represent an even larger percentage of younger generations. Currently 44% of millennials and nearly 50% of “Generation Next” are multicultural, which is double the percentage of the Baby Boomer generation.
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.
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Source : businesswire.com