U.S. news and gossip website Gawker.com will shut down after 14 years as its publisher pays the price for losing a $140 million (£106 million) lawsuit involving former pro wrestler Hulk Hogan.
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Founded almost 14 years ago as one of the first two blogs of what would become Gawker Media, Gawker.com initially covered news and gossip about NY media and society.
The decision comes days after Univision Holdings placed a bid of $135m to acquire Gawker Media’s six other websites in a bankruptcy auction.
Most of Gawker.com’s current editorial staff will be transferred to new roles at these other sites or with their new corporate parent, per Univision’s agreement to retain 95% of Gawker Media’s employees.
While Gawker.com is shutting down, six other sites owned by Gawker Media, including Jezebel and Deadspin, have been purchased by Spanish-language broadcast company Univision for $135 million.
Gawker Media is appealing the jury verdict.
But Gawker founder Nick Denton said Univision opted not to include Gawker.com as part of the deal. Thiel had ostensibly been outed as gay by Gawker in 2007, and he has called Gawker “a singular, bad bully”.
The company had to file for bankruptcy, which allowed Univision to buy Gawker Media on Tuesday.
USA based Gawker Media Group is going to close down next week, after almost 14 years of operations.
Gawker.com started as a media gossip and criticism site, transforming into a source that included in-depth investigations, personal essays and, in the latest phase, focused on political news, commentary and satire.
The sites will complement New York-based Univision’s digital properties.
In a New York Times opinion column published this week, Thiel said, “I am proud to have contributed financial support to his case”, adding that it’s “ridiculous to claim that journalism requires indiscriminate access to private people’s sex lives”.
Following the lawsuit, it was revealed Silicon Valley billionaire Peter Thiel helped bankroll the wrestler’s lawsuit against Gawker, along with several others against the company.
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Earlier this year, Hulk Hogan sued Gawker Media into bankruptcy for releasing clips from a sex tape in which he could be seen in bed with the wife of his friend, radio host Bubba the Love Sponge. “I don’t think anybody but Gawker would argue otherwise”.
