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Univision Communications will buy the bankrupt Gawker Media community for $a hundred thirty five million pounds.
As very first described by Recode, Univision, identified for its Spanish language television station of the very same identify, has gained the auction to buy the distressed residence, beating out a $ninety million bid from Ziff Davis.
Gawker Media declared bankruptcy in June pursuing a $a hundred and fifteen million judgment versus it in a violation of privacy lawsuit introduced by former expert wrestler Hulk Hogan and funded by billionaire tech trader Peter Thiel.
The banker who represented Gawker in its sale confirmed the price tag to Recode. Gawker Media proprietor and founder Nick Denton experienced previously approximated his empire to be valued at all around $two hundred million.
The sale will include things like all seven of the sites underneath the Gawker Media banner and will be subject matter to the acceptance of a US bankruptcy judge. If the sale goes via, the Gawker Media sites will be part of the news and amusement website Fusion as Univision houses.