The company was put up for auction, with the proceeds used to pay part of Hogan’s judgment. Gawker Media didn’t have $140 million, so the company was forced to declare bankruptcy.
A Florida jury agreed, awarding Hogan $140 million in damages earlier this year. Hogan sued, arguing that this was a violation of his privacy. Gawker Media’s path to bankruptcy began with a decision by editors to publish a video of Hulk Hogan having sex - without the permission of either Hogan or his partner. Photo by John Pendygraft-Pool/Getty Images Gawker’s sensationalistic journalism brought about its downfall Gawker founder Nick Denton.
#Gawker shutdown kotaku full#
Other Gawker Media sites will apparently continue operating, and Univision’s management will be able to focus their full energies on them. Shuttering will allow Univision to get a fresh start. But the business logic behind the decision seems pretty clear: ’s brand had become so toxic that continuing to operate the site could have posed significant financial risks. It might seem surprising for Univision to spend $130 million for the company and then immediately shutter its flagship brand. The decision comes just two days after Univision won an auction to acquire Gawker Media, the parent company of as well as websites like Gizmodo and Lifehacker. , a gossip blog that spawned a multimillion-dollar media empire, is shutting down next week.
0 kommentar(er)
