The Wall Street Journal: Univision scoops up Gawker for $135 million at bankruptcy auction

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.

The sale marks the end of an era for Gawker, which British-born journalist Nick Denton founded in 2002 in his apartment and built into a major digital media player through an aggressive and sometimes lurid style of tabloid reporting.

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