Spanish language broadcast media company Univision Holdings Inc. has taken a stake in popular satire publisher The Onion in hopes of wooing millennials and enhancing its political coverage. Comedy is 'an incredibly engaging format for millennial audiences,' Univision's chief news and digital officer Isaac Lee said in a press release, adding that it will play an increased role in coverage of the 2016 presidential race. Broader strategic questions await Univision backers Madison Dearborn Partners LLC, Providence Equity Partners, TPG Capital, Thomas H. Lee Partners, Saban Capital Group and Grupo Televisa SAB in 2016. Primarily, the backers must decide whether to revive a stalled initial public offering for the largest Spanish language cable network, broadcast and media group in the U.S. While Univision declined to comment on the status of the offering, for which it filed a proxy last summer, the company is widely said to have put the IPO on hold late last year, according to The Deal's Senior Writer Chris Nolter. The listing had been anticipated in the early fall. The Deal's Senior Reporter Lisa Allen has the details from New York.