Onion Inc., owner of the satirical news site the Onion and the entertainment site the A.V. Club, has hired a financial adviser for a possible sale, Bloomberg reports, citing people with knowledge of the matter. The company is working with the the investment bank GCA Savvian, the sources said. Steve Hannah, chief executive officer of Onion, declined to comment yesterday in an email. Founded as a magazine by a pair of students at the University of Wisconsin—Madison in 1988, the Onion is now published online only, with several websites and YouTube channels that blend written satire with humorous videos. Hedge fund manager David Schafer bought the company in 2003.
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