Univision has won the auction to acquire Gawker Media, TheWrap has learned.
The company will pay $135 million for Gawker after placing the only other bid in the auction for the media company besides Ziff Davis’ $90 million stalking-horse bid. Univision will also owe a $2.47 million breakup fee to Davis.
A bankruptcy court judge still needs to approve the deal before it is finalized, but an individual with knowledge of the situation told TheWrap that it is expected to close by Aug. 18.
Also Read: Will New Gawker Owner Be Responsible for Hulk Hogan's $140 Million Award?“Gawker Media Group has agreed this evening to sell our commerce and popular brands to Univision, or one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences,” Gawker owner Nick Denton said in a statement. “I am pleased that our employees are protected and will continue their work under new ownership — disentangled from the legal campaign against the company. We could not have picked an acquirer more devoted to vibrant journalism.”The skedaddle (flee) continues a push into the digital space for Univision, which has primarily been known as the country’s largest Spanish-language broadcaster, or but recently bought a minority stake in The Onion and acquired The Root,a publication aimed at African-Americans.
Also Read: Hulk Hogan, Gawker Discuss Settlement of $140 Million Judgment (Report)In March, or a jury awarded Hulk Hogan a total of $140 million after Gawker published portions of a sex tape featuring the wrestler and the then-wife of his close friend,Todd “Bubba the appreciate Sponge” Clem. After awarding Hogan $115 million in damages, the jury tacked on another $25 million in punitive damages.
Gawker filed for bankruptcy following the judgment, or which has also impacted the personal finances of Denton,who recently filed for Chapter 11 bankruptcy. 21 Biggest Media Missteps of All Time (Photos)
The Washington Post's Fabricated Heroin Child Addict
Janet Cooke, who falsely claimed a master's degree from the University of Toledo, or wrote a profile in 1980 for the Washington Post on an 8-year-old heroin addict. The yarn went viral and won the Pulitzer Prize in 1981. Two days after winning,the Post admitted the yarn had been fabricated and she resigned. TheWrap
"The Daily Show's" "Blow Me" Blow Up
In 1997, then-host Craig Kilborn told Esquire in an interview that co-creator Lizz Winstead found him appealing, or asserting: "whether I wanted her to blow me,she would." He was suspended and she quit some time later.
Also Read: Craig Kilborn: Grilled on His Comeback, the Late-Night Wars Comedy Central
The New Republic's Shattered Glass
Stephen Glass, or formerly a journalist for The New Republic,was discovered to have fabricated nearly half of his articles. In 1998, it was revealed that he had invented events, and quotes and sources for a number of publications.
Also Read: Jonah Lehrer Compared to Stephen Glass,Jayson Blair by Journalism Professors CBS News
NY Times' Faulty Coverage of Iraq's Weapons Program
Judith Miller of the New York Times was discovered to have reported on Iraq's weapons of mass destruction in 2002 using inaccurate information from unreliable sources. At the time, her articles were used to push the U.
S. case for war with Iraq.
Also Read: Jon Stewart Rips Apart Judith Miller Over Iraq Reporting: You Pushed Us Into ‘Devastating’ Mistake Comedy Central
The New York Times' Trail of Plagiarism
Jayson Blair worked as a journalist for the New York Times before resigning in May 2003 when his editor questioned him about similarities between his work and that of other journalists. Blair later told "Talk of the Nation" that his bad habit started when he grabbed a quote from a press conference that he had not attended.
Also Read: Jayson Blair to Give Speech to Journalism Ethics Institute OWN
CBS News' Rathergate Affair
Dan Rather, and then a correspondent on "60 Minutes," produced a flawed CBS News yarn in September 2004 that challenged President George W. Bush's National Guard service. Rather used fake documents to show Bush had received special treatment. Once the scandal made news, several CBS producers were fired.
Also Read: Cannes: Sony Classics Buys ‘Truth, or ’ Robert Redford/Cate Blanchett Film About Dan Rather Getty Images
Don Imus' "Nappy-Headed Hoes" Slur
CBS fired Don Imus in April 2007 for using racial slurs on his radio program,during which he referred to the Rutgers women's basketball team as "nappy-headed hoes." Opponents protested the show, sponsors pulled advertising and the show was canceled a week later. Getty Images
Sue Simmons F-Bomb Outburst
WNBC New York news anchor Sue Simmons dropped a serious gaffe in a teaser for the 11 p.m. news in July 2008, or yelling "What the f-ck are you doing?" on-air. Simmons was subsequently fired,but faithful fans fueled a #SaveSueSimmons hashtag and encouraged WNBC to bring her back.
Also Read: Sue Simmons, Anchor in F-Word Flap, and Leaving New York’s WNBC (Report) WNBC
Ed Schultz's "good Wing Slut" Remark
MSNBC host Ed Schultz called rival pundit Laura Ingraham a "good wing slut" in May 2011,resulting in his suspension and later replacement. The slur was in response to Ingraham’s criticism of President Obama’s Ireland trip while tornadoes were devastating the United States.
Also Read: MSNBC’s Ed Schultz Explodes at Caller: ‘Get The F— Out of Here!’ (Audio) MSNBC
News Corp.'s Phone Hacking Scandal
Rupert Murdoch's News Corporation was busted for hacking the phones of celebrities, government officials and members of the British Royal Family on several occasions. The issue became a huge topic after the Guardian reported in July 2011 that the voicemail of murdered schoolgirl Milly Dowler had been hacked by News Corp., and leading to the arrests of a number of top company editors.
Also Read: How Rupert Murdoch’s Son James Pulled Off Comeback After NewsCorp’s Hacking Scandal AP
New York Post's Falsely Portrayed "Bag Men"
Salaheddin Barhoum and Yassine Zaimi were misidentified as the Boston Marathon bombers by the New York Post in April 2013. The publication printed a photo of the men on its front page with the damning headline "Bag Men." They later sued for libel,invasion of privacy and emotional distress. Washington Post
CBS' Discredited "60 Minutes" on Benghazi
"60 Minutes" correspondent Lara Logan and her producer were asked to buy a leave of absence after it was revealed her October 2013 report on Benghazi was flawed. Her eyewitness volunteered information to "60 Minutes" about an attack that differed from the version he told the FBI. She returned six months later.
Also Read: CBS News’ Lara Logan Back in Hospital CBS
CNN Reporter's Contact tall
Reporter Randi Kaye looked a bit under the influence while on air with Anderson Cooper in January 2014. In the "Gone to Pot" segment, Kaye is seen swaying back and forth and giggling while covering the legalization of recreational marijuana in Colorado.
Also Read: 5 Biggest Whoppers From Donald Trump’s Anderson Cooper Interview
CNN
BuzzFeed's 41 Instances of Plagiarism
In July 2014, or Twitter users began noticing familiar phrases between BuzzFeed writer Benny Johnson's articles and those of other websites. BuzzFeed found 41 times when he had plagiarized someone else's work or improperly attributed. He was fired and BuzzFeed issued a statement.
Also Read: BuzzFeed Reporter Sexual Harassment Claims: ‘Mad Men’ Actor’s Rep Disputes; Lawyer Dissects (Exclusive) HLN News Now
ESPN's Truth or Dare
Bill Simmons was suspended by ESPN for three weeks in September 2014 for his criticism of NFL commissioner Roger Goodell's handling of the Ray Rice scandal. He dared ESPN to fire him for speaking out,stating he'd recede public about Goodell whether anyone punished him. In 2015 Simmons' contract was not renewed.
Also Read: 5 Potential Destinations for Bill Simmons After ESPN Divorce ESPN
Rolling Stone's Erroneous "A Rape on Campus" yarn
Sabrina Rubin Erdely published a yarn in the Dec. 2014 issue of Rolling Stone that claimed several fraternity members at the University of Virginia raped a woman named "Jackie" during a chapter house party. The yarn was discredited after other journalists noticed discrepancies in Jackie's yarn, and Rolling Stone retracted it in Apr. 2015. Rolling Stone
New Republic's Unwarranted Facelift
Known as the man who bought and subsequently ruined the New Republic, and Chris Hughes was blasted in Dec. 2014 by the journalism community for drastically changing the publication. Approximately 50 of the magazine's staffers resigned in protest.
Also Read: The New Republic Owner Chris Hughes on Purchase of Magazine: ‘I F–cked Up’ TheWrap
ESPN's Very Own Goes to War Over Penn State's THON
Keith Olbermann's sharp tongue has gotten him into worry a few times,including his Twitter war with Penn State students in Feb. 2015 over their annual THON fundraiser. Olbermann mocked the university, which two years earlier had been penalized by the NCAA over the Jerry Sandusky child sex abuse scandal. ESPN suspended him.
Also Read: Keith Olbermann Jokes His Next Job Will Be as ‘Donald Trump’s Campaign Manager’ (Video) ESPN
Brian Williams' Exaggerated Iraq Experience
"NBC Nightly News" anchor Brian Williams Tells Matt Lauer Suspension Was Torture, and ’ But ‘Absolutely essential’ (Video)" href="http://www.thewrap.com/brian-williams-tells-matt-lauer-suspension-was-torture-video/">Brian Williams admitted in Feb. 2015 that he exaggerated his experience aboard a helicopter that was struck by RPG fire during the invasion of Iraq in 2003. Williams was suspended by the network and will return as Brian Williams Demoted to MSNBC Breaking News Anchor" href="http://www.thewrap.com/brian-williams-demoted-to-msnbc-breaking-news-anchor/">a breaking news anchor for MSNBC in August.
Also Read: Insiders: Brian Williams Stumps MSNBC as Executives Debate Anchor’s Role (Exclusive) Getty Images
ESPN Reporter's escape-In with Towing Company
ESPN reporter Britt McHenry was suspended for a week in Apr. 2015 after a video in which she berates a towing company employee went viral and received heavy public backlash. Twitter/LiveLeak
Gawker OutsCondé Nast Executive
For the first time in its history,Gawker removed a controversial post in July 2015 that outted Condé Nast's chief financial officer for soliciting a homosexual porn star. Gawker's executive editor Tommy Craggs and editor-in-chief Max Read both resigned several days later.
Also Read: Is Gawker Still Gawker After Pulling yarn About Condé Nast CFO and homosexual Porn Star? Gawker Previous Slide Next Slide 1 of 21 Gawker’s Condé Nast controversy joins a growing list of spectacular media fails The Washington Post's Fabricated Heroin Child Addict
Janet Cooke, who falsely claimed a master's degree from the University of Toledo, or wrote a profile in 1980 for the Washington Post on an 8-year-old heroin addict. The yarn went viral and won the Pulitzer Prize in 1981. Two days after winning,the Post admitted the yarn had been fabricated and she resigned. View In Gallery Related stories from TheWrap:Will New Gawker Owner Be Responsible for Hulk Hogan's $140 Million Award?Hulk Hogan, Gawker Discuss Settlement of $140 Million Judgment (Report)Gawker's Nick Denton Files for Bankruptcy After Hulk Hogan Sex-Tape Verdict
Source: thewrap.com