Satirical news website ‘The Onion’ sold to Global Tetrahedron

This looks like good news!

“We have been undergoing an extensive review of our portfolio with the intention of coring down to our leading sites in terms of audience and revenues,” CEO Jim Spanfeller wrote to staffers in a memo, which was obtained by The Daily Beast. “Today we announced great traffic gains for Quartz but also, as part of efforts to sharpen our focus, we are announcing that G/O Media has sold The Onion to a new Chicago based firm called Global Tetrahedron.”

The New York Times first reported the news of the purchase, later revealing that the buying group was formed by former NBC News reporter (and Daily Beast editor) Ben Collins along with Twilio co-founder Jeff Lawson. The Daily Beast reported last month that G/O Media was actively looking for a buyer.

“My friends and I now own and run The Onion,” Collins tweeted on Thursday night. “I’ll be the CEO. We’re keeping the entire staff, bringing back The Onion News Network, and share the wealth with staff. Basically, we’re going to let them do whatever they want. Get excited.”

Their ownership group, which shares a name with a company featured in a 1999 satirical book written by former Onion editors, is comprised of four people who hold “a profound love for The Onion and comedy based content,” Spanfeller wrote. He said the buyers had experience with digital media, though he did not name them or break down their resumes. The group plans to retain The Onion’s entire staff and maintain its operations in Chicago.

Further details from the New York Times archive link.

I'm delighted that The Onion will be kept alive by a group that's likely to respect the site and the people who create it. The Onion has consistently produced the sharpest, most necessary political and media criticism inside a hysterically funny wrapper.