NEW YORK (CelebrityAccess) — After a nearly 14-year run, Gawker Media, a company known both for its innovation and salaciousness in the realm of digital journalism, has announced that they will be ceasing operations.
Nick Denton, the company’s outgoing CEO, informed current staffers of the site’s fate on Thursday afternoon, telling staffers they may be assigned to new editorial roles, either at one of the other six sites or elsewhere within Univision. Near-term plans for Gawker.com’s coverage, as well as the site’s archives, have not yet been finalized, the company said.
Denton said that he plans to "move on to new projects" but offered little detail other than to note that said projects would be outside of the sphere of the news and gossip business.
The announcement of the end of the media empire comes just 48 hours after the company was acquired at auction by Univision for a bid of $135 million. The company had been under financial pressure and forced into bankruptcy in June following a $140 million legal judgment against Gawker in an invasion-of-privacy lawsuit brought by former professional wrestler Hulk Hogan and funded by billionaire Peter Thiel after Gawker published a sex tape of Hogan engaging intimately with a friend's wife. – Staff Writers