The Spanish-language media giant Univision Communications announced Tuesday that it had acquired a large stake in The Onion, the comedy and satirical digital media group, as part of the company’s efforts to extend its digital reach and strengthen its portfolio of comedy outlets.

Terms of the deal were not disclosed, but the transaction was said to be for a 40 percent stake, valued at less than $200 million, according to one person briefed on the deal.

“Comedy is playing an expanding role in our culture as a vehicle for audiences to explore, debate and understand the important ideas of our time,” said Isaac Lee, chief news and digital officer of Univision. “It has also proven to be an incredibly engaging format for millennial audiences and is expected to play a key part in the 2016 presidential election process via our robust content offerings in Spanish and English.”