Online news site Gawker Media has been sold to media firm Univision for $135 million (€119.7m) in a bankruptcy auction.

The sale comes after Gawker filed for bankruptcy protection in June to avoid paying damages when it lost a $140 million invasion of privacy lawsuit brought by Hulk Hogan after the site published a sex tape featuring the retired wrestling personality.

In a statement, Gawker owner Nick Denton said: “I am pleased that our employees are protected and will continue their work under new ownership – disentangled from the legal campaign against the company. We could not have picked an acquirer more devoted to vibrant journalism.”

Other posts by :

1. EchoStar booms on SpaceX holding
2. Norway wants a satellite constellation
3. Crossroads backs AST SpaceMobile
4. FCC examines SpaceX’s 15,000 sat-constellation plan
5. EchoStar: “Severe uncertainty” led to spectrum sales
6. Netflix gets downgrade on Warner Bros move
7. UK trims Orbex investment
8. Euro-bank sets up €500m space fund
9. Revenue jump forecast for Eutelsat

Categories: Articles, Business, M&A