Univision Agrees Deal To Buy Gawker For $135m

One of the most visited sites in the world, Gawker has been sold to an American media company, Univision for $135m. Gawker will be sold following a long drawn out suit which saw them on the losing end. CEO and cofounder Nick Denton confirmed the news in a statement.

Having published a sex tape of former wrestler, Hulk Hogan and his friend’s wife, the court awarded Hulk Hogan $140m in compensation.

SEE ALSO: Gawker Files For Bankruptcy

A statement from Gawker CEO and co-founder Nick Denton said;

“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,”  “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.”
 “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.”
Gawker was valued at $250m having declared bankruptcy in a bid to avoid paying Hulk Hogan’s compensation.

 

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