Quick Hit:

Satirical news outlet The Onion has been acquired by Global Tetrahedron, a Chicago-based company formed by digital media veterans with a passion for comedy.

Key Details:

• New Ownership: The Onion, previously owned by G/O Media, has been sold to Global Tetrahedron, a firm founded by enthusiasts of the satire site.
• Staff Retention: The new owners have committed to keeping the entire staff of The Onion intact and based in Chicago.
• Portfolio Reshuffle: G/O Media is refining its focus, having recently sold other assets including The AV Club and Lifehacker.

Diving Deeper:

The Onion, known for its biting satire and humor, has changed hands once again. This time, it's been acquired by Global Tetrahedron, a newcomer to the media landscape that's backed by four digital media veterans with a deep appreciation for The Onion's unique brand of comedy. The financial details of the deal remain undisclosed, but the acquisition marks a significant shift for the iconic site, which has been part of America’s cultural conversation since its inception as a weekly newspaper in 1988.

Under the new ownership, The Onion will continue to operate out of Chicago, maintaining its full staff as per the conditions of the sale. This move has been met with approval from both the outgoing and incoming management, ensuring a seamless transition that respects the legacy and continued relevance of The Onion in satirical journalism.

Global Tetrahedron, interestingly, shares its name with a fictional company featured in The Onion's own 1999 book "Our Dumb Century," where it is depicted as a powerhouse that grew from humble beginnings into a global entity. This nod to The Onion’s past writings adds a layer of irony and humor to the acquisition, characteristic of the satirical spin the site is famous for.

The sale comes as part of a larger strategy by G/O Media to focus on its most profitable and popular sites. This strategic refocusing has led to the divestment of several other properties in recent months, including The AV Club and Lifehacker, aiming to streamline operations and concentrate on key areas of growth.

As Global Tetrahedron takes the reins, the future of The Onion looks both promising and interesting, with assurances that the beloved site will continue to deliver its sharp, satirical take on news and global events under the stewardship of those who value its influence and heritage.