Twilio cofounder buys the Onion

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Jeff Lawson, the co-founder and former CEO of Twilio, has recently acquired the satirical news outlet The Onion. The Onion, known for its unique brand of satire that has been a staple in digital media for over three decades, was previously owned by G/O Media, a company formed by the private equity firm Great Hill Partners. The sale was part of G/O Media's strategic reassessment of its portfolio, focusing on sites with higher audience and revenue. The new ownership group, led by Lawson, is named Global Tetrahedron, a nod to a fictional company from The Onion's own 1999 book "Our Dumb Century." This group includes digital media veterans like Ben Collins, who will serve as CEO, and other key figures such as Leila Brillson and Danielle Strle, who bring expertise from their previous roles at major companies like NBC News, Bumble, and Tumblr. Under the new ownership, The Onion is expected to shift its business model away from click-based revenue to a subscription model, enhance its social media presence, and expand its merchandise offerings. There are also discussions about reviving dormant projects like The Onion News Network and its print newspapers. This acquisition by Lawson and his team aims to preserve The Onion's editorial independence and its satirical voice, which has been critical in commenting on social and political issues. The new owners have committed to maintaining the existing staff and engaging with the union to potentially increase compensation for writers, ensuring that The Onion continues to thrive in the changing digital media landscape.
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