Friday, August 19, 2016

Gawker To Cease Operations After Acquisition

Gawker Media is ending its operations next week, Gawker reported on Thursday, after the company was sold out of bankruptcy to media company Univision. Gawker reported the shutdown news itself, saying that Nick Denton, the site's CEO and founder, told staffers that they will be moved to one of its other six sites, or to other Univision properties, after thea cquisition. Univision agreed to pay $135M for Gawker, which was sent into bankruptcy after a lawsuit filed by Hulk Hogan and funded by tech mogul Peter Thiel.