Gawker univision6/25/2023 ![]() With Univision taking over, there is no indication what, if any, role Denton will have in Gawker’s new direction. He has since come out and recently backed Donald Trump vociferously at the Republican National Convention.ĭenton founded the company in 2002 and last year argued that it was worth $250 million. It shuttered the iconic, which was viewed as toxic after a court ordered Gawker Media to pay Terry Bollea aka Hulk Hogan. Hogan’s suit wasn’t the first time the fiery website made enemies, most notably with Theil, who seemed to have a vendetta against the Gawker group after a 2007 report on the now defunct Valleywag wrote a post saying Thiel was gay. Univision bought Gawker Media last August in a fire sale. Hogan received no settlement money because of the bankruptcy, though the sale of assets may change that, especially since Gawker is appealing the case in court and money will have to be set aside to deal with the funds owed to whatever side may win. Denton departed, and the flagship site shut down. ![]() Gawker had been the subject of much controversy before filing for bankruptcy, after Hulk Hogan and PayPal founder Peter Thiel won a $140 million settlement for publishing a sex tape of Hogan’s. Univision, the Spanish-language broadcaster, is buying Gawker Media for 135 million in the aftermath of a 140 million judgment against it in the Hulk. A collection of Gawker Media sites that did not include was sold to Univision in 2016 for 135 million. Recode also reported that Mark Patricof, the Houlihan Lokey banker who represented Gawker Media, confirmed the sale price. We could not have picked an acquirer more devoted to vibrant journalism." 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 was sued again in May 2016 by the same lawyer who brought the Hogan case on behalf of a man who claims to have invented e-mail.Recode reported Tuesday that Gawker Media owner Nick Denton said in a statement: "Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences. + When Univision Network was founded more than 50 years ago, its mission was simple: create a. However, the case also sparked debate about the limits of free speech, with many journalists and media outlets arguing that Gawker had a right to publish the clip under the First Amendment. Univision Communications agreed to buy Nick Denton's Gawker Media yesterday with a bid of 135. Bollea is better known as former pro-wrestler Hulk Hogan. In March 2016, a Florida jury awarded Hogan 140 million in damages, a verdict that ultimately led to Gawker’s bankruptcy and sale to Univision. We could not have picked an acquirer more devoted to vibrant journalism.Īs Ars reported in April 2016, Gawker has already begun the process of appealing the $140 million verdict a jury ordered it to pay in March 2016 for publishing a sex tape of Terry Bollea. 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 Group has agreed this evening to sell our business and popular brands to Univision, one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences. In a statement to several media organizations, Gawker founder Nick Denton said the following: Univision also expanded investments in The Onion, a humor site, and The Root, a site that focuses on African-American news. Earlier this year it bought out Disney’s stake in the Fusion network and website. Univision, which owns the largest Spanish-language television network in the United States, has recently been expanding its online holdings. The deal must formally be approved by the federal judge overseeing Gawker’s bankruptcy case. Univision beat out a lower bid by Ziff Davis. The price tag for Nick Denton’ s (former) empire was 135 million. Further Reading Gawker declares bankruptcy, will auction itself off in wake of Hulk Hogan lawsuit Multiple media outlets reported Tuesday that Gawker Media, the embattled online media company that has been the target of multiple lawsuits, announced that it had been acquired by Univision for $135 million. Like we expected, Univision Communications has won the bidding process for Gawker Media.
0 Comments
Leave a Reply. |