When Hulk Hogan won his lawsuit against Gawker Media, it was like he hit the body slam on Andre the Giant at WrestleMania 3. News of Gawker shutting down was the 1, 2, 3 pin that secured Hogan the big win.
Gawker will be shutting down next week in the aftermath of Hogan's invasion of privacy case win against them, in which Gawker was sentenced to pay Hogan $140 million. Hogan was happy about the news and posted it on Twitter.
The media company posted the following on their website:
After nearly fourteen years of operation, Gawker.com will be shutting down next week. The decision to close Gawker comes days after Univision successfully bid $135 million for Gawker Media's six other websites, and four months after the Silicon Valley billionaire Peter Thiel revealed his clandestine legal campaign against the company.
Nick Denton, the company's outgoing CEO, informed current staffers of the site's fate on Thursday afternoon, just hours before a bankruptcy court in Manhattan will decide whether to approve Univision's bid for Gawker Media's other assets. The near-term plans for Gawker.com's coverage, as well as the site's archives, have not yet been finalized.
Gawker filed for Chapter 11 bankruptcy in June and Gawker founder, Nick Denton, filed for personal bankruptcy protection and named Hogan as his biggest creditor. It was announced this week that Univision outbid Ziff Davis, publisher of PCMag, to purchase Gawker Media Group for $135 million, which also operates Gizmodo, Deadspin, Jezebel, Kotaku, Lifehacker and Jalopnik.
Brother.
