Univision Is Buying Gawker Media For $135M

Posted by HardOCP News 6:56 PM (CDT)

Tuesday August 16, 2016

It looks like Gawker has been sold to Univision for roughly the same amount the courts ordered it to pay Hulk Hogan earlier this year after being found liable for invasion of privacy. The courts still need to approve the deal and money will have to be set aside until all the appeals in the case are over. The article doesn't say how much but I'm sure it will at least be the $50 million bond that is required under Florida law.

The TV network and digital publisher has agreed to pay $135 million for the bankrupt blog network, according to a person familiar with the deal. Univision’s offer will encompass all seven of Gawker Media’s sites, including Ziff Davis and Univision were the only two bidders for Gawker, which filed for bankruptcy after Hulk Hogan won a $140 million judgment in a privacy case. Ziff Davis had originally offered $90 million for Gawker Media.