Two years after acquiring The Root, media network Univision Communications is looking to sell the black publication.

Univision confirmed Tuesday, July 10, that the company is looking to sell The Onion and Gizmodo Media Group (GMG), the digital portfolio which includes The Root. According to a press release from the company, the sale is believed to allow "even greater opportunities to grow" for all parties involved.

"The Company determined that pursuing a sale of GMG and The Onion collectively will allow UCI to focus on its core assets and further strengthen UCI’s position as the No. 1 media company serving U.S. Hispanics, while enabling both GMG and The Onion even greater opportunities to grow under new ownership," the release states.

The Gizmodo Media Group consists of brands including The Root, Jezebel, Deadspin, Lifehacker, Splinter, Kotaku, Earther, Jalopnik and Gizmodo. The Onion includes its namesake, Clickhole, The A.V. Club and The Takeout.

The call for this comes as Univision has struggled to adapt to a changing media landscape with a focus on digital subscriptions and advertising revenues.

According to CNN, Univision is currently going through a drastic overhaul, partly due to challenges in its broadcast television components and broader struggles to satisfy its private equity owners. Univision’s owners reportedly include billionaire Haim Saban’s Saban Capital Group, Mexican media giant Televisa and private-equity firms Providence Equity Partners, Madison Dearborn Partners, Thomas H. Lee Partners and TPG.

CNN also reports an internal memo from new CEO Vince Sadusky states that he does not doubt the websites "can thrive even more as part of a company whose focus aligns better with theirs."

"Likewise, it is important for Univision to exit a business which does not enhance our core mission, and instead refocus on our strengths," Sadusky wrote, speaking of the company's dedication to Spanish-speaking programming.

In June, over 40 GMG staff members were cut due to mandated budget cuts. This came as a follow-up to Univision laying off 150 employees to reconstruct the business.

Univision reportedly tried to sell a 20 percent stake in the company in 2017, but ultimately failed to find any takers. Even now, there is no assurance that the process to explore the sale of these assets will result in any transaction or the adoption of any other strategic alternative.

As The Root is still looking for a home, requests have been extended to Beyoncé and Jay-Z for purchase, but that one is still up in the air.

Now, check these out:

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Univision Communications

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