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CBS News reports that Univision has won the auction for Gawker Media. Univision bid $135 million for the company. The only other bidder was Ziff Davis. The sale must be approved by a bankruptcy court.
From the article:
Spanish-language broadcaster Univision won an auction Tuesday for Gawker Media, which was put on the block in the aftermath of a $140 million judgment against it in the Hulk Hogan invasion-of-privacy case.
Univision is paying $135 million for the online gossip and news publisher, according to a person familiar with the matter who asked not to be identified because the deal had not been formally announced.
In a statement Tuesday evening however, Gawker's founder confirmed they agreed to sell their business and brand to Univision.
Expanding from its Spanish-language base, Univision has been investing in media properties aimed at young people, including taking a stake in satirical website The Onion in January. In April, it said it was taking full control of Fusion, a TV channel and website aimed at English-speaking young people it had launched with ABC in 2013.
Univision outbid Ziff Davis, the owner of tech and gaming sites, in the auction for Gawker Media. They were the only two bidders, according to a person familiar with the bankruptcy auction. A judge must still approve the sale at a hearing Thursday.
previously:
Hulk Hogan Awarded $115 Million in Privacy Suit Against Gawker Media
Hulk Hogan's Sex Tape and a Tech Billionaire's Revenge on Gawker
Gawker Files for Chapter 11; Won't Pay Hulk Hogan and Peter Thiel
(Score: 2, Insightful) by Anonymous Coward on Thursday August 18 2016, @07:39PM
You are an old man frojack. The younger crowd is drawn to Gawker like Rapists to inebriated coeds.
Dare I say, I too am drawn for their witty banter on pointless hyperbolous "news" events. It's a strange mix of depravity, desperation, and ever-increasing apathy that signifies my generation: A generation that grew up being shit on by the whole world. Living like this has a price and at some point you just sorta go mad, like the Comedian in The Watchmen. Shit that we should worry about, we don't because we can't do nothing about that. Shit that should surprise us doesn't, because we seen some shit. Shit that is pointless but somewhat interesting? That gets all our attention because it can engage us on a level we can deal with. That is why my generation is the way it is. It is not our fault, it's all the shit you guys done to us coming home to roost. And that is Gawker's target audience, which it hits right on the money with every stupid and pointless article.
They have nothing of value? No my friend, you just ain't got a clue.
PS. Enjoy your lawn while you still got it.
(Score: 0) by Anonymous Coward on Friday August 19 2016, @12:24AM
Welcome to getting older. Every generation eventually realizes the one before them was blowing smoke up their asses in some way. Unfortunatly there is always a group out of every generation that holds onto that like a white hot burning coal of hatred to burn to the end of time.