Gizmodo looks like it’s finally getting a new home. A private equity firm, Great Hill Partners, is closing in on purchasing the group of web sites, according to the Wall Street Journal.
It’s been almost a year since news broke that Gizmodo’s corporate parent Univision was looking to sell the business in a retrenchment of its digital media strategy. Since then the digital media landscape has looked pretty bleak, with companies laying off workers and selling for pennies on the dollar. That certainly didn’t help Univision’s cause as it tried to auction off Gizmodo, to what we hear was as mostly lukewarm reception.
A sale to Great Hill would be an interesting outcome. The firm doesn’t seem to have any big media assets, although some of its managing partners have served on boards of media firms like Ziff Davis. Given that Gizmodo is a collection of sites, like The Root, Lifehacker and The Onion, it seems pretty likely that Great Hill will sell off some of the assets after some time. That could give other media buyers like bargain hunter Bryan Goldberg of Bustle Digital Group the chance to swoop in and pick up the pieces.