Univision Holdings Inc. made the winning $135 million bid to acquire Gawker Media. The online media site was driven to bankruptcy earlier this year after losing $140 million lawsuit to Hulk Hogan for posting a video of the wrestler on their site.
“Gawker Media Group has agreed this evening to sell our business and popular brands to Univision,” Denton said in a statement. “I am pleased that our employees are protected and will continue their work under new ownership — disentangled from the legal campaign against the company.”
Gawker’s properties, which include Gizmodo, Lifehacker and Deadspin as well as Gawker, continued to operate during bankruptcy proceedings. Univision also owns Fusion Media group which operates humor site The Onion, African-American news site The Root, and Flama, a news-and-entertainment site for young Hispanic Americans.