Univision Buys Gawker for $135M

The bankrupt media company was up for auction Tuesday
By Michael Harthorne,  Newser Staff
Posted Aug 16, 2016 6:52 PM CDT
Univision Buys Gawker for $135M
Nick Denton, founder of Gawker, just saw his online media company auctioned off to Univision.   (AP Photo/Steve Nesius, Pool, File)

It appears the bankrupt Gawker has a new owner: Univision. The company best known for Spanish-language television bought Gawker Tuesday at auction for $135 million, the New York Times reports. The online media company was forced to put itself up for sale after Hulk Hogan and tech billionaire Peter Thiel successfully sued it for $140 million over the publishing of a portion of the Hulkster's sex tape. According to Forbes, Univision outbid web company Ziff Davis, which opened bidding at $90 million. The deal, which still needs to be approved by a judge, is for all seven of Gawker's websites, which include Deadspin and Jezebel, Recode reports. It will be the first time since its founding in 2002 that Gawker will be owned by an outside company.

Univision has been expanding its presence online recently, acquiring the Onion and the Root and taking full control of Fusion. “I am pleased that our employees are protected and will continue their work under new ownership," Recode quotes Gawker founder Nick Denton as saying in a statement. "We could not have picked an acquirer more devoted to vibrant journalism." Despite statements from Denton and Gawker's banker—who says the "outcome exceeded our expectations—Denton may still find himself disappointed. He had recently claimed Gawker was worth $250 million or more. (More Gawker stories.)

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