US based Gawker Media Group is going to close down next week, after nearly 14 years of operations.
The decision comes days after Univision Holdings placed a bid of $135m to acquire Gawker Media’s six other websites in a bankruptcy auction.
Gawker also mentioned that one of the reasons for its shutting down also includes the legal campaign launched by Silicon Valley billionaire Peter Thiel against the company.
A bankruptcy court from Manhattan is yet to approve Univision Holdings bid to acquire Gawker.com
Univision will acquire Gawker Media’s Gizmodo, Jalopnik, Jezebel, Deadspin, Lifehacker and Kotaku, but it will not be operating the Gawker.com site.
Gawker CEO Nick Denton said that the staff of Gawker.com and its sites will be assigned in other editorial roles either in subsidiary sites or elsewhere in Univision. As per the coverage of Gawker.com and its archives, no decisions have yet been finalised.
Few years ago, Gawker.com had wrote an article regarding aspects of Peter Thiel's private life.
After this incident, Peter Thiel spend millions on funding third party lawsuits against the company.
He had financially supported several plaintiffs including wrestler Hulk Hogan and other plaintiffs to fight legal battles against Gawker.
Hulk Hogan won a $140m court case against Gawker which had published excerpts from a sex tape.
Hulk Hogan had filed a case against the company after Gawker posted a video showing his affair with his friend’s wife.
Following the judgement, the company filed for bankruptcy earlier this month.
