Univision’s asset purchase agreement for the deal, filed Wednesday with the U.S. Bankruptcy Court for the Southern District of NY in Manhattan, gave the acquirer the option to exclude Gawker.com up to three days before closing of the deal.
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The decision comes just days after Univision bid $135 million for Gawker Media’s six other websites.
According to Gawker.com note, near-term plans for Gawker.com’s coverage and its site’s archives have not yet been finished. Hogan contended it was a violation of his privacy.
Gawker.com will reportedly remain online, but no new content will be published starting Monday. “They will be joining The Onion, ClickHole and other beloved web properties in Fusion Media Group, the digital operation of Univision”.
Gawker started in 2003 as a blog focused on New York City media that shaped gossip and water cooler conversation in newsrooms and publishing houses.
After the Florida jury came down against Gawker, it emerged that Thiel had spent $US10 million bankrolling Hogan’s suit.
Instead, Univision will be taking on popular websites Lifehacker (advice), Gizmodo (tech), Jezebel (women), Kotaku (gaming), Deadspin (sport) and Jalopnik (driving).
As media watchers and pro wrestling fans already know, the reason Gawker Media was up for auction was because the company filed for bankruptcy in June after losing a lawsuit brought by now-former WWE Hall of Famer Terry “Hulk Hogan” Bollea. Gawker’s editors contended the video and an accompanying post was a newsworthy commentary on the ordinariness of celebrity sex videos.
It was later revealed that Hogan’s lawsuit was backed by Silicon Valley investor Peter Thiel.
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Thiel told The New York Times that after Gawker.com had made public their opinion about his sexuality, he realized that the site had a unique and incredible damaging way of attracting its public attentions by bullying people, even where there was no connection with the public interest. After an outcry that the post was misogynist and unnecessarily violated O’Donnell’s privacy, Gawker went on the defensive and published a follow-up post to explain why it published the account. News stories displayed here appear in our category for Business and are licensed via a specific agreement between LongIsland.com and The Associated Press, the world’s oldest and largest news organization.
