Hispanic media company Univision Communications has acquired The Root, a top online destination for African-American news and commentary, in a bid to expand its reach to a new audience.
Terms of the deal were not disclosed. The Root was a subsidiary of the Slate Group, owned by Graham Holdings Co. In 2013, Jeffrey Bezos, founder and CEO of Amazon.com, acquired the Washington Post, in a separate transaction.
In joining Univision, The Root will use UCI’s digital production facilities and publishing infrastructure while preserving its editorial voice, according to the company.
“This bold new partnership between Univision and The Root underscores the ties that have long bound people of color together throughout the Western Hemisphere and is a sign of even greater levels of communication, collaboration and exchange between these culturally vital groups of people,” said Henry Louis Gates Jr., director of the Hutchins Center for African and African-American Research at Harvard University, and chairman of The Root. Gates co-founded The Root with Donald Graham, CEO and chairman of Graham Holdings, in January 2008.
SOURCE: Todd Spangler