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butthurt writes:

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

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