Univision Communications will buy the bankrupt Gawker Media network for $135 million dollars.
As first reported by Recode, Univision, known for its Spanish language television station of the same name, has won the auction to buy the distressed property, beating out a $90 million bid from Ziff Davis.
Gawker Media declared bankruptcy in June following a $115 million judgment against it in a violation of privacy lawsuit brought by former professional wrestler Hulk Hogan and funded by billionaire tech investor Peter Thiel.
staff email from Heather Dietrick, president and general counsel of Gawker Media
The banker who represented Gawker in its sale confirmed the price to Recode. Gawker Media owner and founder Nick Denton had previously estimated his empire to be valued at around $200 million.
The sale will include all seven of the sites under the Gawker Media banner and will be subject to the approval of a US bankruptcy judge. If the sale goes through, the Gawker Media sites will join the news and entertainment site Fusion as Univision properties.