Univision buys Gawker Media for $135 million

NEW YORK, Aug. 16 (UPI) — Spanish-language broadcaster Univision Holdings Inc. has bought bankrupt Gawker Media, for a reported $135 million at auction on Tuesday, sources said.

Univision outbid the only other bidder, Ziff Davis, by $45 million, sources close to the sale said, however, the sale will need to be approved by a U.S. bankruptcy court judge this week.

The deal comes two months after Gawker filed for bankruptcy following the loss of an invasion-of-privacy lawsuit to former pro wrestler Hulk Hogan for $140 million.

With the sale, Univision picks up not only the gossip site Gawker, but sports site Deadspin, tech site Gizmodo, women’s site Jezebel, and auto enthusiast site Jalopnik.

The Spanish-language broadcaster bought millennial-focused cable channel Fusion, African American news site the Root and online humor site the Onion earlier this year.

Gawker was founded by former Financial Times journalist Nick Denton in 2002.

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