Univision Communications Inc. announced Tuesday they have acquired a controlling stake in the famed satirical news outlet, The Onion.

According to the UCI's website, the self-professed leading media company serving Hispanic America is now a minority investor in Onion Inc., which includes The Onion digital brand among other projects.

While Onion Inc. will continue to operate independently of Univision, the company says UCI will help oversee distribution and raise exposure to the brand.

According to NPR, Univision has 40 percent stake in Onion Inc., which included not only The Onion news site but also its sister entertainment site The A.V. Club, clickbait spoof Clickhole and various other ventures.

Univision is attempting to branch out of a primarily Spanish-speaking audience, targeting young Latino millennials who more readily consume English media.

Recently, the company launched the Fusion network in tandem with ABC Network and also acquired the African-American geared website The Root.

"Comedy is playing an expanding role in our culture as a vehicle for audiences to explore, debate, and understand the important ideas of our time," said Isaac Lee, chief news and digital officer of Univision and CEO of Fusion, in a statement.

"It has also proven to be an incredibly engaging format for millennial audiences, and is expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English."

The Onion also looks to benefit from the Univision acquisition. The publication has, like most print news outlets, been forced to change direction with the industry's turn to digital media. It published its last printed edition in 2013.

"Onion Inc. has remained successful by putting editorial first. We're excited to partner with Univision, a company that understands and appreciates that foundation, and that can provide additional resources, expertise, and opportunity for our talented staff," said Mike McAvoy, president and CEO of Onion Inc., in a statement.

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