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Gawker univision7/27/2023 ![]() ![]() All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Those jobs could be at Univision after the sale officially goes through in the near-term, they will likely be given jobs at other Gawker Media sites. "We're all operating under the assumption that they're shutting it down," one staffer told CNNMoney, just before heading into the meeting.Įmployees of have been told they will all have jobs, the staffer said. In his memo, Denton said he will "move on to other projects," but he will stay "out of the news and gossip business."īut by the time the meeting was called, employees had resigned themselves to the reality that 's days were numbered. Gawker is appealing the Hogan verdict, but Denton said in his memo that even if the appellate court rules in its favor, "Peter Thiel has already achieved many of his objectives."ĭenton said Thiel's campaign against Gawker Media made the flagship side "too risky" for Univision or other prospective investors.ĭenton informed staffers of the site's fate at a meeting early Thursday afternoon at Gawker's headquarters in Manhattan, two hours before the hearing to ratify Univision's acquisition and a day after he confirmed that he would be leaving the company following the sale. Thiel, who has acknowledged that he's bankrolling other lawsuits against Gawker Media, said in a New York Times op-ed earlier this week that he will support Hogan "until his final victory." Hogan's lawsuit was financed by Silicon Valley billionaire Peter Thiel, himself a target of Gawker's coverage. A Florida jury awarded Hogan $140.1 million in damages earlier this year, which motivated both Gawker Media and Denton to file for bankruptcy this summer. Hogan, whose real name is Terry Bollea, filed an invasion of privacy suit against Gawker Media after the namesake site published a portion of his sex tape in 2012. The site's unsparing coverage prompted several lawsuits, including the one brought by the former professional wrestler Hulk Hogan that sent the parent company into bankruptcy. The site also served as a springboard for some of the internet's best-known writers and editors.īut had its critics, many of whom are likely celebrating Thursday's news. It represents an abrupt end for a site that helped define a snarky tone and style that are now ubiquitous across digital media. ![]() " may, like Spy Magazine in its day, have a second act," he wrote in the memo.įor now, Denton added, the site "will live on in legend." Representatives from Gawker and Univision didn't immediately respond to requests for comment outside of normal business hours.Ĭomment threads are monitored for 48 hours after publication and then closed.Later in the memo, Denton said the site had been "mothballed, until the smoke clears and a new owner can be found." ![]() If outbid by Univision, Ziff Davis is entitled to a $2.47 million breakup fee, with expense reimbursement of as much as $1.25 million. The contract would also prohibit him from working with a competitor during that period. After vengeful tech billionaire Peter Thiel funds the infamous Hulk Hogan lawsuit that bankrupts Gawker Media (RIP), Univision Communications buys some of the brand’s websites, including Deadspin, Jezebel, Gizmodo, Lifehacker, Jalopnik, and Kotaku. That proposal includes what Gawker called an "extraordinary provision": an agreement to retain Gawker founder Nick Denton under a two-year consulting contract that pays about $200,000 annually. August 16, 2016: Univision buys Gawker Media assets for 135 million. The New York-based digital media company had picked Ziff Davis in June as the "stalking horse" bid, with an opening offer of $90 million. Gawker Media, driven into bankruptcy in June after losing an invasion-of-privacy lawsuit to Hulk Hogan, has attracted formal takeover offers from only two bidders - Ziff Davis and Univision Holdings, according to a person familiar with the matter. ![]()
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