GAWKER LOSES MILLIONS PRO
GAWKER LOSES MILLIONS CODE
GAWKER LOSES MILLIONS TRIAL

“The legal costs are being stripped out,” said a source familiar with the sale talks. The initial bid came in at one to 1.5 times revenue. The value of the business was pegged at $250 million around the time of that deal, but that number has since sunk, sources said.ĭuring the Hogan trial, it emerged that Gawker’s annual revenue was $48.7 million in 2015. He sold a minority stake for $100 million to technology firm Columbus Nova Technology Partners, injecting some much-needed cash as the company fought the Hogan suit.

GAWKER LOSES MILLIONS TRIAL

Journal Media does not control and is not responsible for the content of external websites.Judge denies Gawker's bid for new trial in Hulk sex tape caseĪt least one unnamed party has already expressed interest with a deal valued at between $50 million and $70 million, sources said.ĭenton owns a 68 percent stake in Gawker after bringing in his first outside investor earlier this year. Users are reminded that they are fully responsible for their own created content and their own posts, comments and submissions and fully and effectively warrant and indemnify Journal Media in relation to such content and their ability to make such content, posts, comments and submissions available.

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GAWKER LOSES MILLIONS CODE

TheJournal.ie supports the work of the Press Council of Ireland and the Office of the Press Ombudsman, and our staff operate within the Code of Practice. Read: PHOTOS: Brown Thomas unveils Christmas market Read: VIDEO: Teenager leads police on 125 mile/hr chase with young children in car “I think in a lot of ways Gawker has helped to define the voice of the internet,” said Josh Benton, the director of the Nieman Journalism Lab at Harvard University, who said he’s been a daily reader “as long as there’s been a Gawker.” The site became a breeding ground for journalists, some of whom went on to jobs at the sort of establishment media outposts Gawker itself frequently mocked. Gawker’s snarky and frequently vulgar style was influential throughout publishing.

Thiel’s vendetta against Gawker raised concerns about wealthy people covertly working to undermine media companies they didn’t like. Univision wants those properties to help build a more youthful audience than that commanded by broadcast TV.īut Gawker’s real enemy, it turns out, wasn’t Hogan so much as Peter Thiel, a PayPal founder and early investor in Facebook who a Gawker site had outed as gay in 2007. The company currently publishes seven sites in addition to, including the feminist-focused Jezebel, the tech site Gizmodo and the sports site Deadspin. “If you want to ascribe blame, blame Denton.” “The real shame is that Gawker gave Hogan a sledgehammer with which (to) pulverise it in state court,” New York University journalism professor Adam Penenberg tweeted. Gawker Media went into bankruptcy protection after the verdict, and a judge has to approve the sale at a hearing today. Gawker had published a video of Hogan having sex with a friend’s wife.Ī Florida court awarded Hogan, whose lawsuit was secretly backed by an aggrieved Silicon Valley billionaire, $140 million (€121 million) in damages.

GAWKER LOSES MILLIONS PRO

Univision, the Spanish-language broadcaster, is buying the parent company, Gawker Media, for $135 million (€118 million) the sale follows Gawker’s loss in a major invasion-of-privacy case brought by the former pro wrestler Hulk Hogan.

Twitter immediately went berserk in an unholy mélange of shock, sadness and Schadenfreude. Founder Nick Denton reportedly told staffers Thursday afternoon that will come to an end next week. The news - appropriately enough, broken by Gawker itself - follows the sale of the site’s parent company to Univision. GAWKER, THE BRASH New York website that broke new ground with its gossipy, no-holds-barred coverage of media, culture and politics, is shutting down after 14 years, brought low by an unhappy, but deep-pocketed, subject.

Gawker loses millions