The onion was sold again. G/O Media has sold the humor brand to four anonymous investors who call themselves Global Tetrahedron, named after one of the site’s own gags.
G/O CEO Jim Spanfeller confirmed the news to employees in a memo on Thursday.
The acquiring company “is comprised of four digital media veterans with a deep love for The Onion and comedic content,” Spanfeller wrote. “The location’s new owners have agreed to keep The Onion’s entire staff intact, and we have insisted that it be part of the deal.” Read his memo in full below.
The satirical media company has changed hands several times in the last decade. G/O bought it in 2019 and recently sold The AV Club, the Onion’s non-satirical arts and culture division that became its own hub in the digital age.
Back in January, unionized workers at The Onion were on the verge of a strike. Employees of The Onion Union — which represents creative staff at The Onion, The AV Club, Deadspin and The Takeout — have reached a tentative agreement with G/O Media just hours before their contract expires. The Writers Guild of America East announced the new collective bargaining agreement, which followed the guild’s approval of a strike over unfair labor practices.
According to the union, the negotiating committee “made significant progress on wages and workplace protections.”
Here is Spanfeller’s full memo:
As I mentioned to you last month, we have undergone a comprehensive review of our portfolio with the intention of narrowing down to our leading websites in terms of audience and revenue. Today we announced big traffic gains for Quartz, but as part of our efforts to sharpen our focus, we’re also announcing that G/O Media has sold The Onion to a new Chicago-based company called Global Tetrahedron.
This company is comprised of four digital media veterans with a deep love for The Onion and comedic content. The location’s new owners agreed to keep all The Onion and Chicago staff intact, and we insisted on being part of the agreement.
For over 35 years, The Onion has been an indispensable part of our country’s cultural fabric with its unique brand of satire and comedy that remains as important and relevant today as at any time in its storied history.
I would like to personally thank The Onion team for their hard work and dedication during their time at G/O Media. They are a talented group of people who I have no doubt will continue to thrive under their new owners
Jim Spanfeller | Chief Executive Officer, G/O Media