Univision Communications Reaches Deal With ABC To Become Sole Owner Of FUSION

(RTTNews) - Univision Communications Inc. said that it has reached an agreement with Walt Disney Co.'s (DIS) ABC to become the sole owner of FUSION, the joint venture the two companies launched in October 2013.

Effective immediately, Univision Communications 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.

Univision Communications will be forming the Fusion Media Group or 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.

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.