![]() ![]() We could not have picked an acquirer more devoted to vibrant journalism. “I am pleased that our employees are protected and will continue their work under new ownership - disentangled from the legal campaign against the company. Gawker Media, once a multi-million blog network, was forced to declare bankruptcy after Peter Thiel helped Hulk Hogan with his case against Gawker for 100 million. “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,” he told CNN. In an email to CNN, Denton said that the sale ensures that Gawker will live on. “But ultimately Univision prevailed, and both sides are happy with the outcome.” Gawker Sold to Univision for 135 Million Variety Home Digital News 3:29pm PT Univision Buys Gawker for 135 Million By Gene Maddaus Eve Edelheit/Tampa Bay Times via ZUMA. Both parties put in an awful lot of work, and Ziff Davis deserves credit for their effort,” Patricof told the site. The Gawker Media brands were sold to media group Univision, and the Gawker website was acquired in 2018 by Bustle owner Bryan Goldberg in a bankruptcy auction. Gawkers parent company said Friday it has entered into an asset purchase agreement with online publisher Ziff Davis, the same day Gawker filed for Chapter 11 after a Florida state court paved the. A few days later, Gawker filed for Chapter 11 bankruptcy and eventually sold assets. Mark Patricof, the banker handling the bankruptcy auction, confirmed the deal to Recode. After 30 minutes, Gawker’s team returned to the courtroom and told the judge they were withdrawing their offer. The move essentially guarantees that Gawker will be sold. Gawker Media has hired bankers and is reportedly considering selling itself after losing a high-profile defamation lawsuit from wrestler Hulk Hogan and his well-financed legal backers. It also launched Fusion, its own TV network and digital publisher. Univision has won the auction for Gawker Media. Univision has been buying up digital brands recently, including the Root and the Onion.
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