News site Gawker.com to shut down next week

News site Gawker.com to shut down next week

  • 18 August 2016
  • From the section Business
Nick Denton founder of Gawker MediaImage copyright Getty Images

Media company Gawker says it will shut down its main site next week, just days after it was purchased by Univision.

In a post on its website, Gawker founder Nick Denton said he had told staff on Thursday afternoon.

Earlier this week, media firm Univision agreed to buy Gawker for $ 135m (£103m) at a bankruptcy auction.

Gawker filed for bankruptcy after losing a $ 140m privacy lawsuit brought by former wrestler Hulk Hogan, paid for by Paypal co-founder Peter Thiel.

Mr Thiel funded Mr Hogan’s case saying he wanted to curb the company’s “bullying”, after the site published an article that outed him as gay.

Founded 14 years ago, Gawker is known for its no-holds-bar approach to reporting, including breaking gossip stories on high-powered celebrities and business leaders.

Univision is most commonly known in the US as the country’s biggest Spanish-language media company.

The announcement of Gawker.com’s closure came hours before a US bankruptcy court was set to approve Univision’s purchase of Gawker’s parent company – Gawker Media, which owns seven websites in total.

They are: Gawker.com, Deadspin, Lifehacker, Gizmodo, Kotaku, Jalopnik, and Jezebel.

The post said plans for future coverage and the Gawker.com website’s archives had not yet been finalised.

Financial trouble

Earlier this year Gawker was sued by Hulk Hogan, whose real name is Terry Bollea, after the website published a video of Mr Hogan having sex with the wife of a friend from 2007.

A three-week trial ended with the jury ruling in the former wrestler’s favour and ordering Gawker to pay $ 115m in compensation and $ 25m in punitive damage.

Gawker asked the judge for a new trial, but that request was rejected. Many experts though expect that the original verdict will be overturned on appeal.

BBC News – Technology

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