Univision is purchasing Gawker Media for $135 million.
The auction for the bankrupt site closed out last night, with the television network and web publisher placing a $135 million winning bid. Univision beat out publisher Ziff Davis, the only other bidder, for all seven of Gawker’s sites. Ziff Davis started the bidding at $90 million.
Gawker declared Chapter 11 bankruptcy two months ago, in the wake of an invasion-of-privacy lawsuit filed and won by Hulk Hogan for $140 million after the site posted his sex tape online.
The deal isn’t official until it’s approved by a bankruptcy judge Thursday.
Gawker Media started as a blog in 2003, centered around New York City media. As it gained traction, it began writing on broader issues with an accessible tone, slowly becoming a pioneer of web journalism and ultimately influencing news organizations across media.
“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 Media founder Nick Denton said in a statement. “We could not have picked an acquirer more devoted to vibrant journalism.”
Gawker’s portfolio includes, in addition to its flagship site Gawker, the feminist site Jezebel, sports site Deadspin, tech site Gizmodo and auto site Jalopnik. Last year, with the rise of BuzzFeed, Vox and Vice, Denton valued his company at upwards of $250 million.
Univision, which has traditionally been known as a Spanish-language TV network, makes the bid as it continues its recent effort to expand its digital reach. In the last year, it has acquired The Onion, The Root, a site focused on black issues, and Fusion, a news site and cable channel it partnered with the Walt Disney Company to create three years ago.
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