In March, a Florida jury awarded Hogan $115 million after ruling that Gawker violated Hogan’s right to privacy by posting excerpts from his sex tape in 2012. Hogan received an additional $25 million in punitive damages a few days later. The other was Spanish-language media giant Univision Communications. The irreverent gossip site helped define digital media in the 2000s. Gawker Media filed for Chapter 11 bankruptcy on Friday and put itself up for auction as it continues a legal battle with former wrestler Hulk Hogan. Thiel has defended his previously secret backing of the Hogan suit as a check on media organizations that publish individuals’ private info. Goldberg bought the Gawker name for 1.35 million in 2018 at a bankruptcy auction. In July 2021, Gawker relaunched under the ownership of Bustle Digital Group, whose founder and CEO Bryan Goldberg bought the website’s assets for 1.35 million in a bankruptcy auction in 2018. The Hogan lawsuit was funded in part by PayPal co-founder and billionaire Peter Thiel, who remains angry that Gawker outed him as gay in a 2007 article. The firm outbid media rival Ziff Davis to seal the deal, which still hinges. In a related development, Gawker founder and CEO Nick Denton filed for personal bankruptcy protection earlier this month. Online news site Gawker Media has been sold to media firm Univision for 135m (103m) in a bankruptcy auction. Other Univision-owned digital brands include the Root and Flama.
Gawker media auction full#
Univision has taken over full control of the millennial-targeted Fusion cable and digital news venture ( after Disney exited the partnership), and in January bought a controlling stake in satire and comedy producer the Onion. A Univision rep declined to comment. Results of the Gawker bankruptcy auction could be announced later Tuesday.įor Univision, Gawker would build up the Hispanic media giant’s holdings in the digital arena as it continues to seek younger audiences. Forbes: Univision, the Spanish-language television and news organization, has formally submitted a bid for bankrupt Gawker Media, two sources close to the.
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