Univision has reportedly won the auction for Gawker Media and will pay $135 for the bankrupt network of sites, according to Recode:
Ziff Davis and Univision were the only two bidders for Gawker, which filed for bankruptcy after Hulk Hogan and Peter Thiel won a $140 million judgment in a privacy case. Ziff Davis had originally offered $90 million for Gawker Media.
Here’s a statement from Gawker Media owner Nick Denton (above): “Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences. I am pleased that our employees are protected and will continue their work under new ownership — disentangled from the legal campaign against the company. We could not have picked an acquirer more devoted to vibrant journalism.”
Gawker was forced into bankruptcy after losing a lawsuit brought by Hulk Hogan over a sex tape Gawker had published on its site. The suit was later revealed to have been bankrolled by gay Paypal billionaire Peter Thiel, who was angry that Gawker had outed him.