A major Hispanic media company, in a move designed to broaden its reach to a new audience, has acquired a top African-American-oriented online site. Variety reports that Univision Communications bought the news and commentary site The Root, a subsidiary of the Slate Group, from Graham Holdings Co.
Terms of the contract were not revealed.
“In joining Univision, The Root will use UCI’s digital production facilities and publishing infrastructure while preserving its editorial voice, according to the company,” the story notes.
The Root, which reaches an average of 5 million unique users per month, was founded in 2008 by Henry Louis Gates Jr., director of the Hutchins Center for African and African-American Research at Harvard University, and Donald Graham, CEO and chairman of Graham Holdings.
Commenting on the sale, Gates said: “This bold new partnership between Univision and The Root underscores the ties that have long bound people of color together throughout the Western Hemisphere and is a sign of even greater levels of communication, collaboration and exchange between these culturally vital groups of people.”