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| News site Gawker.com to shut down next week | |
| (35 minutes later) | |
| Media company Gawker says it will shut down its main site next week, just days after it was purchased by Univision. | Media company Gawker says it will shut down its main site next week, just days after it was purchased by Univision. |
| In a post on its website, Gawker founder Nick Denton said he had told staff on Thursday afternoon. | |
| Earlier this week, media firm Univision agreed to buy Gawker for $135m (£103m) at a bankruptcy auction. | Earlier this week, media firm Univision agreed to buy Gawker for $135m (£103m) at a bankruptcy auction. |
| Gawker filed for bankruptcy after losing a $140m privacy lawsuit brought by former wrestler Hulk Hogan, paid for by Paypal co-founder Peter Thiel. | Gawker filed for bankruptcy after losing a $140m privacy lawsuit brought by former wrestler Hulk Hogan, paid for by Paypal co-founder Peter Thiel. |
| Mr Thiel funded Mr Hogan's case saying he wanted to curb the company's "bullying", after the site published an article that outed him as gay. | |
| Founded 14 years ago, Gawker is known for its no-holds-bar approach to reporting, including breaking gossip stories on high-powered celebrities and business leaders. | |
| Univision is most commonly known in the US as the country's biggest Spanish-language media company. | |
| The announcement of Gawker.com's closure came hours before a US bankruptcy court was set to approve Univision's purchase of Gawker's parent company - Gawker Media, which owns seven websites in total. | |
| They are: Gawker.com, Deadspin, Lifehacker, Gizmodo, Kotaku, Jalopnik, and Jezebel. | |
| The post said plans for future coverage and the Gawker.com website's archives had not yet been finalised. | |
| Financial trouble | |
| Earlier this year Gawker was sued by Hulk Hogan, whose real name is Terry Bollea, after the website published a video of Mr Hogan having sex with the wife of a friend from 2007. | |
| A three-week trial ended with the jury ruling in the former wrestler's favour and ordering Gawker to pay $115m in compensation and $25m in punitive damage. | |
| Gawker asked the judge for a new trial, but that request was rejected. Many experts though expect that the original verdict will be overturned on appeal. |