http://www.recode.net/2016/8/16/12504008/univision-is-buying-gawker-media-for-135-million
Well, at least it's not Ziff
Univision has won the auction for Gawker Media.
The TV network and digital publisher has agreed to pay $135 million for the bankrupt blog network, according to a person familiar with the deal.
Univision’s offer will encompass all seven of Gawker Media’s sites, including Gawker.com
Ziff Davis and Univision were the only two bidders for Gawker, which filed for bankruptcy after Hulk Hogan and Peter Thiel won a $140 million judgement in a privacy case. Ziff Davis had originally offered $90 million for Gawker Media.
The deal won’t be official for a bit. For starters, a US bankruptcy court judge needs to sign off on the transaction. When it is final, the funds will be set aside, while Gawker appeals its court case; eventually the money will go to the side that wins.
Whatever the result of the case, the auction is a disappointing conclusion for Gawker Media owner Nick Denton, who founded the company in 2002.
Last year, as rival media companies like Vice, BuzzFeed and Vox Media (which owns this site) were raising money at increasingly high valuations, Denton was arguing that his company was worth $250 million or more.
Well, at least it's not Ziff