Not a joke: Bloomberg reports that satirical newspaper The Onion is gearing up for a possible sale, and, according to sources, has hired investment bank GCA Savvian for financial guidance.
“America’s Finest News Source” has undergone a slate of changes in recent years. Last November, the paper ended its 25-year print run. The year before that, it moved its offices to Chicago from New York, reportedly to cut costs.
In an effort to keep up with the web’s metabolism, The Onion launched ClickHole this past June, a parody site that laces the Internet’s take- and listicle-driven economy with The Onion‘s satirical venom. “These clickbait sites have the unique things they do, and they do these things quite well,” Onion managing editor Ben Berkley told Fast Company at the time. “On the other hand … maybe they’re the worst thing that ever happened to humanity.”
The Onion Inc. is owned by fund manager David Schafer, who bought the company in 2003. Bloomberg speculates that the publication “can use its brand to capitalize on money flowing into web media from traditional outlets.” So: Anyone have any ideas for who should buy The Onion?