Univision is set to buy Gawker Media for $135m, after the Spanish-language TV broadcaster trumped a rival offer in a bankruptcy auction for the online media group.
Gawker, founded by journalist Nick Denton, had filed for bankruptcy in June after a judge upheld a ruling for it to pay $140m in damages for publishing a sex tape involving the wrestler Hulk Hogan. The company has called on an appeals court to overturn the damages and said it would sell its assets to raise cash to pay back its creditors.