Private-equity firm Great Hill Partners has agreed to acquire Gizmodo Media Group from Univision Communications Inc., the companies said, ending the Spanish-language broadcaster’s foray into English-language digital media, the Wall Street Journal reported. James Spanfeller, the former chief executive of Forbes.com and president of consumer magazines at digital publisher Ziff Davis, will become chief executive of G/O Media Inc., a new company created from the assets. Gizmodo Media Group includes sites Gizmodo, The Onion, Jezebel, Deadspin and Lifehacker. The companies didn’t disclose the deal’s price. People familiar with the sale process said they expect Great Hill Partners to pay much less than the $135 million Univision paid in 2016 to acquire most of the Gizmodo properties. Univision is still grappling with debt, the consequence of a $13.7 billion leveraged buyout in 2006 when buyout firms took the company private. The company said that it finished 2018 with $7.4 billion in debt but reduced its total debt by $547 million last year.
