Disney Said in Talks to Sell Stake in Fusion to Univision
No terms were available, said the person, who asked not to be identified because the discussions are ongoing. Monica Talan, a spokeswoman for Univision, declined to comment. A spokeswoman for Disney didn't return calls seeking comment.
Fusion, founded two years ago, was first aimed at young, English-speaking Hispanics in the U.S. It has since broadened its target audience to a wider group of millenials. Its programs include "America with Jorge Ramos" a news show featuring the Mexican-American journalist, and "Rude Tube," a viral video countdown.
In the past year, Disney has moved forward with two other projects that target millenials. It invested in Vice Media Inc., the online and cable news programmer popular with young men, and planning to rebrand its ABC Family channel as Freeform to better appeal to younger women.
The company is also enjoying a record-setting opening for its first entry in the new "Star Wars" movies but facing pessimistic analyst notes about the future of the cable TV bundle and the sports rights costs attached to ESPN.
The Fusion discussions were reported earlier by Dow Jones and CNBC.
-- Bloomberg News