Gizmodo Media Group and The Onion have a new owner — private equity firm Great Hill Partners.

As part of the deal, digital media executive Jim Spanfeller is becoming CEO of (and an investor in) the renamed G/O Media. Spanfeller previously led Forbes.com as CEO and also founded Spanfeller Media Group, the company behind the Daily Meal.

“This opportunity comes at a time when the entire digital media category is beginning to be recognized again for its unique ability to meet the diverse content and delivery needs of consumers and advertisers,” Spanfeller said in a statement. “As the largest player in our space, G/O Media is in an ideal position to capitalize on this dynamic, and I am excited to collaborate with a great team

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