Univision has agreed to buy the bankrupt Gawker Media for $135 million. The offer is for Gawker.com, as well as the rest of Gawker Media’s seven websites.
Univision wasn’t the only bidder for the conglomerate. Ziff Davis originally offered $90 million.
Spanish-language broadcaster Univison wins auction to buy Gawker Media, adding to its non-Spanish portfolio. https://t.co/3ZqnmmkzU7
— The Associated Press (@AP) August 17, 2016
“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,” owner Nick Denton said in a statement. “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 Media filed for Chapter 11 bankruptcy earlier this summer and put its assets up for sale after the court ordered the company to pay $140 million to Hulk Hogan following his invasion-of-privacy lawsuit.