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Univision acquires Gawker for $135 million in bankruptcy auction

By midian182
Aug 17, 2016
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  1. Univision, the US Spanish-language broadcaster and digital publisher, has won the bankruptcy auction to acquire Gawker for $135 million. It beat media company Ziff Davis LLC, which had made an initial bid of $90 million.

    The deal still needs to be approved by a bankruptcy judge. It covers all seven of Gawker Media’s sites: Gizmodo, Kotaku, Gawker.com, Lifehacker, Deadspin, Jalopnik, and Jezebel. Gawker founder Nick Denton confirmed Univision's winning bid in a statement.

    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 filed for bankruptcy in June after losing a $140 million violation of privacy lawsuit against Terry Bollea, better known as Hulk Hogan, who sued the company after it published clips of a sex tape featuring the former wrestler and his friend’s wife.

    Hogan’s lawsuit was partly funded by Facebook investor and PayPal co-founder Peter Thiel, who said he was “proud” to lend his financial support to the case. Gawker revealed the billionaire was gay in a 2007 article - Thiel said he had just begun to come out to those close to him at the time of its publication.

    Female Lifestyle site LittleThings made a $10 million offer for Jezebel but was told it wasn’t for sale as an individual property (at least not at the moment) and that the bid arrived too late.

    Univision is best known for its broadcast networks and radio stations, but it has expanded its online portfolio in recent times. It acquired a large stake in satire site The Onion earlier this year, owns network and digital publisher Fusion, and bought African-American news site The Root in 2015.

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  2. p51d007

    p51d007 TS Evangelist Posts: 914   +391

    Good riddance Gawker!
     
    psycros likes this.
  3. Uncle Al

    Uncle Al TS Evangelist Posts: 1,684   +791

    I hear they are about to buy up Studebaker next!
     
  4. Panda218

    Panda218 TS Maniac Posts: 290   +106

    Hulk got them good with that last pile driver!
     
    Hexic, psycros, wastedkill and 2 others like this.
  5. mbrowne5061

    mbrowne5061 TS Evangelist Posts: 340   +133

    And here I was hoping all those properties would stay dead. Guess that will stay a dream.
     
    psycros and wastedkill like this.
  6. Squid Surprise

    Squid Surprise TS Guru Posts: 867   +277

    What ya gonna do, when the Hulkster sues you!!!
     
    psycros likes this.
  7. davislane1

    davislane1 TS Evangelist Posts: 3,566   +2,373

    Never challenge the pythons.
     
  8. psycros

    psycros TS Evangelist Posts: 1,324   +711

    Ah yes, Gawker should fit well with Univision's other racist, anti-American propaganda mills.
     

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