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Update 2, 18 August 2016, 10.44pm: Univision plans to integrate Gawker’s assets into its own pop culture website platform Fusion, according to a tweet. This leaves the future of the company’s other websites, including the likes of Lifehacker, Gizmodo and Kotaku, in doubt.
— Fusion Media Group (@FusionMedia) August 18, 2016
Update 1, 18 August 2016, 10.20pm: In light of Univision’s purchase of the Gawker network, Gawker.com announced some industry-changing news on its front page this evening.
The flagship site announced that it will end operations next week. Nick Denton, the founder of Gawker Media, announced the move to staffers Thursday, and will also be on his way out.
“After nearly fourteen years of operation, Gawker.com will be shutting down next week,” reads the website’s latest and possibly last post.
“Staffers will soon be assigned to other editorial roles, either at one of the other six sites or elsewhere within Univision. Near-term plans for Gawker.com’s coverage, as well as the site’s archives, have not yet been finalized,” it concludes.
The company is currently waiting on legal services to approve the acquisition of its remaining assets by Univision.
Original article: Blog network Gawker Media will be acquired by media conglomerate Univision for US$135-million, the company confirmed.
It’s the first time the Nick Denton-founded company will be under umbrella ownership since its launch back in 2002.
“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,” Denton announced in an official statement.
“I am pleased that our employees are protected and will continue their work under new ownership — disentangled from the legal campaign against the company.”
That “legal campaign” against Hulk Hogan over a leaked sex tape left the company bankrupt. Hogan ultimately won the case, and was awarded damages of around US$140-million. Gawker is currently appealing the ruling.
According to Recode, the deal with Univision isn’t yet official, and first needs a US bankruptcy court to sign the deal.
The deal includes Gawker’s seven other blogs, as well as its eponymous flagship website. Univision currently owns the likes of pop culture site Fusion, and satire news site The Onion.