The Spanish-language media firm Univision Communications has acquired a large stake in the satirical publication the Onion, the Los Angeles Times reports, noting in its headline: “It’s no joke.” The two companies announced the deal Tuesday.

Terms were not disclosed, and the companies declined to provide details, but it has been reported that Univision will have a 40% stake. The Onion launched as a newspaper 28 years ago in Wisconsin, and today maintains a number of websites.

“Over the years, it published such faux articles as ‘Supreme Court Rules Supreme Court Rules’ in 1997 and ‘Bush: Our Long National Nightmare of Peace and Prosperity Is Finally Over,’ in 2001, shortly after President George W. Bush took office,” the Times notes.