According to multiple reports, Walt Disney Co. wants to sell its stake in Fusion, its joint venture with Univision. Fusion originally sought an audience of English-speaking Hispanics before pivoting to “Millennials.” The network, however, has struggled to keep pace with other ambitious editorial startups like BuzzFeed, Vice, and Vox Media.
Disney and Univision are discussing the terms of Disney’s exit from the partnership, the Wall Street Journal reports. “Disney wants out,” someone close to the talks told CNN Money. According to SEC filings, Fusion lost nearly $35 million in 2014.
CNN Money reports that Univision is likely to end buying out Disney’s stake. According to the Journal, people at Univision are eager to have a Miliennial-focused news brand operating under its sole aegis.
Also, from CNN Money: “Fusion’s identity challenges have led some in the media industry to nickname it ‘con-Fusion.’” Hmm.