Univision Wins Bankruptcy Auction for Gawker Media for $135 Million
Univision Communications Inc. won a court-administered auction for Gawker Media Group, outbidding Ziff Davis for control of the 14-year-old digital media pioneer that was forced into bankruptcy by a costly legal battle with former professional wrestler Hulk Hogan.
Univision came out on top with a bid of $135 million on Tuesday, according to two people familiar with the auction. The sale still has to be approved by U.S. Bankruptcy Court Judge Stuart M. Bernstein at a hearing later this week. – READ MORE