WASHINGTON (Sputnik) — Univision agreed to pay $135 million for the Gawker network including its seven websites, ReCode and the New York Times reported, citing sources, on Tuesday.
"Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America's largest media companies," Denton stated on Tuesday.
Denton placed the company for sale after losing a $140 million privacy lawsuit to US entertainer Hulk Hogan in March 2016. Denton declared Chapter 11 bankruptcy in June.
The lawsuit was funded by billionaire hedge fund manager Peter Thiel, who also founded the data analytics company Palantir.
The Univision purchase will not be finalized until a US bankruptcy judge approves it, according to media reports.
The purchase cost will go to whoever eventually wins Gawker’s appeal of the Hogan decision.
