Report: The Onion in Talks to Sell to "Large Media Company"

Authored by Mark Hefflinger on July 16, 2009 - 8:51am.

New York - Satirical newspaper The Onion is in talks to sell itself to a "large media company," Gawker reported, citing an anonymous source.

The company has cut some $6 million in costs under CEO Steve Hannah, who is reportedly actively seeking suitors.

The cuts included shuttering print operations in San Francisco and Los Angeles.

Gawker said that it's not clear that any deal to sell the publication is imminent.

http://www.theonion.com