Gawker Media Sells For $140 Million

Gawker will have a new owner in the wake of the Hulk Hogan lawsuit.

Univision will be the new owner of Gawker Media, according to Recode.net. The outlet reports that Univision paid $135 million for the media company, which gives them control of all seven of Gawker media's websites. The sale won't be official until a bankruptcy court signs off on the deal.

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Hulk Hogan's huge $140 million judgment against the company will be largely cared for. Hogan sued Gawker after the outlet leaked clips of a sex tape with him and Heather Clem, which was recorded without his knowledge. Gawker is trying to appeal the judgment, but they and CEO Nick Denton both have filed for bankruptcy.

“Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences. I am pleased that our employees are protected and will continue their work under new ownership — disentangled from the legal campaign against the company. We could not have picked an acquirer more devoted to vibrant journalism," Denton said in a statement. 

You can see a video highlighting the trial in under two minutes above. 

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