Tuesday, August 16, 2016
Gawker Goes To Univision
Los Angeles-based broadcaster and media company Univision has reportedly won the deal for bankrupt online publisher Gawker, and will pay $135M for the company, according to reports on Tuesday afternoon. Gawker had gone up for bankruptcy auction on Tuesday morning, with such Los Angeles companise as J2 Global / Ziff Davis, Univision, and Penske Media all reportedly submitting bids for the Silicon Valley publication. Gawker filed for Chapter 11 bankruptcy earlier this year, after it lost a lawsuit filed by Hulk Hogan--with the lawsuit funded by technology mogul Peter Thiel--and was ordered to pay $140M to Hogan, over invasion of privacy. Univision is not a stranger to the online publishing world, and already owns a number of other online content sites, in addition to its more traditional media properties.