Gawker deals professional#

Ziff Davis, which owns IGN and, had been one of the other bidders for Gawker Media, having put in an initial bid of $90 million. Axel Springer bought Business Insider in September 2015 for $442 million. The company as a whole had previously been valued at around $250 million, while comparable digital media companies have sold for far more. The $135 million price tag is reportedly above what Denton had hoped for, but well below previous appraisals. Univision's digital side now operates under the Fusion umbrella. In addition to its homegrown operations including Flama, El Rey and Fusion (which had been a joint venture with Disney until Univision bought its partner out), Univision purchased The Onion and The Root. Univision has been one of the most active companies in acquiring digital media upstarts. Description: In mid-2019, Penguin Random House, Simon & Schuster, and Hachette were invited to bid on a book. Assuming that happens (with how bizarre this case has been, anything is possible), the money would wait to go to whichever side wins the upcoming appeal - which Gawker leadership has been openly confident they will win. Deal: 1.4 million with Penguin Random House. The deal will still need to be finalized by the bankruptcy judge overseeing Gawker's case. Gawker was put up for auction after declaring bankruptcy, a move that it was forced into by the $140 million judgement related to its privacy lawsuit with Hulk Hogan. We could not have picked an acquirer more devoted to vibrant journalism.' 'I am pleased that our employees are protected and will continue their work under new ownership - disentangled from the legal campaign against the company. 'Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences,' Denton wrote. Gawker CEO and cofounder Nick Denton confirmed the news in a statement. Univision is in position to acquire the embattled digital media company for $135 million, according to a report from Recode. Four of the 18 pages are the same title card with the CernoMedia logo.Gawker Media's time in limbo is almost over. The 18-page presentation spotlights Cernovich’s 2015 self-published book, Gorilla Mindset, a self-help book for men hoping to become “alpha males.” It also boasts about the size of Cernovich’s social-media following, which includes an audience of some 400,000 on Twitter and Facebook. “We follow the precept that, ‘Conflict is attention,‘ and seek to break stories that involve high human drama,” reads one slide outlining Cernovich Media’s strategy. The offer letter links to a password-protected slide deck that describes his media company. It seeks ownership of Gawker’s domain names and 200,000-odd archived articles. Since Gawker has brand recognition, a blog with a high page rank, and two large social media accounts, my team will be able to leverage these properties to continue my journalistic work.” The letter, which was confirmed by Ropes & Gray, the law firm representing Gawker in its bankruptcy proceedings, is dated January 9-the day after a failed Kickstarter by ex-Gawker employees had ended, and the same day that Steve Bannon, another far-right media figure, left the board of Breitbart. “I also work with a network of independent journalists.

Gawker deals professional#

“For the past eighteen months I have assembled a video and audio crew who are talented at creating viral content,” Cernovich writes in the letter, addressed to Gawker bankruptcy plan administrator William Holden. Since Gawker lost its court battle with Hulk Hogan back in June and filed for bankruptcy, its been unclear just how much the former professional wrestler would get given the massive 140 million. Mike Cernovich, the right-wing lifestyle guru and self-proclaimed journalist, is offering $500,000 in cash for Gawker’s assets, according to a copy of the offer letter obtained by the Hive. PayPal co-founder and Gawker nemesis Peter Thiel isn’t the only one eyeing the final remains of Nick Denton’s gossipy, sometimes groundbreaking media empire.