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.”

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