"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Saturday, November 15, 2014

"The Onion" may be up for sale

If only I had the money to buy it

Everything in this story is actually, honestly true.

Onion Inc., owner of the satirical news site the Onion and the entertainment site the A.V. Club, has hired a financial adviser for a possible sale, according to people with knowledge of the matter.

The company, which calls itself “America’s Finest News Source,” is working with the investment bank GCA Savvian, said the people, who asked not to be identified because the deliberations are private reports Bloomberg.

Steve Hannah, chief executive officer of Onion, confirmed the hiring of a financial adviser in a memo to his staff obtained by Bloomberg. He said the adviser has been handling inbound inquiries for both investment partners and potential buyers of Onion.

“We have had follow-up conversations with numerous parties in recent months,” Hannah wrote. “Our advisors will continue to have those conversations and, hopefully, they will lead to the right outcome.”

Founded as a magazine by a pair of students at the University of Wisconsin at Madison in 1988, the Onion is now published only online, with several websites and YouTube channels that blend written satire with humorous videos. David Schafer, a fund manager, bought the company in 2003.

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