On the heels of news that Univision had won an auction for Gawker Media with a bid of $135 million, we now know what the company plans to do with it. Univision will be shutting down the site, The New York Times reports.
“Gawker.com, the irreverent website whose wry, conversational tone and take-no-prisoners style influenced publications across the internet, will shut down next week, even as the rest of the company’s portfolio of sites are poised to be folded into Univision,” the paper reports.
“Nick Denton, Gawker Media’s founder and chief executive, told employees about the decision on Thursday, according to a post at Gawker.com,” The Times reports. “It came just before a bankruptcy hearing at which a judge was to rule on whether to approve the company’s sale to Univision.”
The website will remain online but will cease to publish new content after Monday, the report notes. “The company’s portfolio of sites also includes the technology site Gizmodo; the sports site Deadspin; and Jezebel, a site aimed at women,” the report notes.
The Times adds: “Univision won an auction on Tuesday for Gawker Media with a bid of $135 million. Gawker Media, facing a $140 million judgment from an invasion of privacy lawsuit by the former professional wrestler Hulk Hogan over the publication of a sex tape, filed for Chapter 11 bankruptcy two months ago and put itself up for sale.”