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  • 08.17.16

Univision wins auction for Gawker Media with $135 million bid (UPDATED)

Univision and Ziff Davis were the only two bidders for Gawker Media, reports Recode. Ziff had earlier bid $90 million. 

•Univision will get all seven of the websites within the group, including Gawker.com Update: After the Recode story broke Tuesday, Gawker.com staffers were told the deal may not include the Gawker.com website. Rather, the terms state that Univision can return the embattled website to Gawker Media LLC, or take possession of it and shut it down.

•Gawker Media was forced into bankruptcy after losing a defamation suit brought by Terry Bollea (aka Hulk Hogan). Gawker has said it will appeal. Bollea’s suit was financially backed by Silicon Valley billionaire Peter Thiel. Gawker outed Thiel as being gay back in 2007. 

•The deal won’t be official until a bankruptcy judge signs off on it. 

•Statement from Gawker Media owner Nick Denton: “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.”

•Univision previously acquired the network and digital publisher Fusion, as well as the websites The Onion, and The Root.MS