BusinessWire.com reports that TheRoot.com has been bought out by Univision, a network which boasts itself as “the largest Spanish-language broadcaster in the US.”
Graham Holdings Company (NYSE: GHC) announced today that it sold The Root.com, an on-line magazine focused on news, opinions, culture and entertainment from the perspective of African Americans, to La Fabrica, a division of Univision Interactive Media, Inc. The Root launched in 2008.
“Donna Byrd, publisher, and Henry Louis Gates, co-founder, established The Root and made it the success it is today. We are extremely proud and grateful for all they have accomplished, and we are excited for the new growth opportunities today’s sale gives them,” said Donald E. Graham, Chairman and CEO of Graham Holdings.
The sale was confirmed at TheRoot.com as well.
“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,” said Professor Henry Louis Gates Jr.