Univision has prevailed in a bankruptcy auction for digital media pioneer Gawker, beating out a bid from Ziff Davis. The Wall Street Journal reports that Univision’s bid of $135 million came in as the high bid in the court-administered auction for Gawker Media Group.
The sale must be approved by U.S. Bankruptcy Court Judge Stuart M. Bernstein, who is expected to rule on the matter later this week.
Gawker was forced into bankruptcy following a costly legal battle with Hulk Hogan, whose $140 million jury verdict against the company in an invasion of privacy case was upheld in June.
“The sale marks the end of an era for Gawker, which British-born journalist Nick Denton founded in 2002 in his apartment and built into a major digital media player through an aggressive and sometimes lurid style of tabloid reporting,” WSJ notes.