• 08.17.16

Morning intel: Univision buys Gawker for $135 million, Pinterest launches video ads

• Univision beat out Ziff Davis with its $135 million bid for Gawker Media, buying all seven of the company’s sites. 

• Pinterest is introducing video ads; the company previously only offered one type of ad unit, Promoted Pins.

• Cisco is cutting about 20% of its workforcea total of 14,000 employees—in the company’s biggest round of layoffs. 

• The first offshore wind farm in the U.S. has nearly been completed off the coast of Rhode Island

• Tencent’s quarterly earnings results reported a 52% jump in revenue to $5.38 billion and net income of $1.64 billion. PM