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News site Gawker.com to shut down next week | News site Gawker.com to shut down next week |
(35 minutes later) | |
The news site Gawker.com will shut down next week, just days after it was purchased by Univision. | The news site Gawker.com will shut down 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. | In a post on its website, Gawker founder Nick Denton said he had told staff on Thursday afternoon. |
Media firm Univision agreed to buy parent company, Gawker Media, for $135m (£103m) at a bankruptcy auction. | Media firm Univision agreed to buy parent company, Gawker Media, 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. | 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. |
'Losing Gawker.com hurts' | 'Losing Gawker.com hurts' |
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. | 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. It also owns a 40% stake in the satirical website The Onion. | Univision is most commonly known in the US as the country's biggest Spanish-language media company. It also owns a 40% stake in the satirical website The Onion. |
The announcement of Gawker.com's closure came hours before a US bankruptcy court was set to approve Univision's purchase of Gawker Media, which owns seven websites in total. | The announcement of Gawker.com's closure came hours before a US bankruptcy court was set to approve Univision's purchase of Gawker Media, which owns seven websites in total. |
They are: Gawker.com, Deadspin, Lifehacker, Gizmodo, Kotaku, Jalopnik, and Jezebel. | 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. | The post said plans for future coverage and the Gawker.com website's archives had not yet been finalised. |
Gawker employees took to Twitter to express their sadness about the decision to shut down the sites. | |
"Our other sites, including Kotaku, live on, but losing the vibrant Gawker.com hurts," tweeted Stephen Totilo, editor-in-chief of Kotaku. | |
Bobby Finger, a staff writer for Jezabel, tweeted, "I'm one of countless people who owes Gawker so, so, so much." | |
Another staff writer, Jordan Sargent, wrote: "Gawker is dead because Peter Thiel (w the help of Charles harder) has succeeded in creating a world where owning gawker is simply not viable." | |
Former Gawker reporter Sam Biddle wrote simply, "I am heartbroken". | |
Financial trouble | 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. | 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. | 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. | 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. |