Univision has reportedly won a bidding war to buy beleaguered online news outlet Gawker Media for $135 million. In a report from Recode citing a person familiar with the deal, Univision topped Ziff Davis LLC in the bid for Gawker. Soon after, The Wall Street Journal confirmed the report through a source, adding that Ziff Davis withdrew from the auction after the price exceeded its threshold. Gawker filed for bankruptcy back in June after losing an invasion-of-privacy lawsuit against pro wrestler Hulk Hogan. The deal would need to be approved by a bankruptcy court judge before it's finalized.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below