Last Laugh: Univision will pay Gawker founder Nick Denton $200,000 per year not to work
has closed its doors, and founder Nick Denton is no longer at the helm of Gawker Media, which has had its remaining brands like Gizmodo and Lifehacker picked up by Univision for $135 million.
The downfall of Gawker is wrapped up in a $140 million judgment that was awarded to Hulk Hogan, which forced Gawker Media and Denton to declare bankruptcy.
Denton is personally liable for $10 million of the judgment and jointly liable for a further $115 million, according to The Wall Street Journal.
But that doesn’t mean Denton is completely broke.
Part of the Univision acquisition deal, pointed to by Fortune’s Mathew Ingram, shows that Univision will pay Denton $16,666 a month for two years to not “associate with any business enterprise” doing the same thing as Gawker. That’s about $200,000 per year. – READ MORE