Hulk Hogan’s legal war with Gawker Media has resulted in founder Nick Denton auctioning off his company last week which was purchased by Univision Communications for $135 million. However Univision is now shutting down operations of the website effective next week.
“After nearly fourteen years of operation, Gawker.com will be shutting down next week. The decision to close Gawker comes days after Univision successfully bid $135 million for Gawker Media’s six other websites, and four months after the Silicon Valley billionaire Peter Thiel revealed his clandestine legal campaign against the company,” a post on Gawker.com reads. Thiel was revealed as the one pumping the money behind Hogan’s legal case which is why Hogan never settled during the trial, gambling on a bigger payoff while Thiel paid the legal fees.
“Nick Denton, the company’s outgoing CEO, informed current staffers of the site’s fate on Thursday afternoon, just hours before a bankruptcy court in Manhattan will decide whether to approve Univision’s bid for Gawker Media’s other assets,” the statement on Gawker continued.
The case between Hogan, Gawker Media, Nick Denton, and AJ Daulerio continues as defendants will be appealing the judgment if they can come up with the cash.