Gawker Closing After 14 Years

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Gawker.com will be closing next week after 14 years  following its bankruptcy filing last month. The company revealed the news August 18, 2016 days after Univision agreed to buy Gawker Media for $135 million. In addition to Gawker.com, Gawker Media also owns six other websites such as Jezebel, Gizmodo, and Deadspin among others. The Univision sale was approved by a judge presiding over the Gawker Media bankruptcy.

Gawker Media was forced into bankruptcy after losing a privacy lawsuit to Hulk Hogan who was awarded a $140 million judgement. The lawsuit was financed by Silicon Valley billionaire Peter Thiel who was seeking revenge over past coverage the site published about him.

Gawker founder Nick Denton sent a memo to staff addressing both the acquisition and the plan to shutter Gawker.com.

“Sadly, neither I nor Gawker.com, the buccaneering flagship of the group I built with my colleagues, are coming along for this next stage,” Denton said. “Desirable though the other properties are, we have not been able to find a single media company or investor willing also to take on Gawker.com.”

 

 

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