Perhaps the most damning testimony, appalling the jury and certifying their loathing of the defendants, was editor in chief A.J. Petersburg, where Bollea/Hogan is a favorite son and the jury was outraged by testimony concerning Gawker’s “editorial ethos” of publish the truth, no matter how trivial and no matter who is hurt.
#Gawker crossword trial#
Indeed, Denton is personally liable for $10 million of the jury’s award to Bollea and is facing bankruptcy proceedings of his own meanwhile, he has lost his company as a result of a Florida jury’s stunning verdict in the two-week trial in St. The campaign being mounted against its editorial ethos and former writers has made it too risky.
“Desirable though the other properties are, we have not been able to find a single media company or investor willing also to take on. “Sadly, neither I nor, the buccaneering flagship of the group I built with my colleagues, are coming along for this next stage,” Denton wrote in a memo made public after the nearly two-hour-long hearing in which Judge Stuart Bernstein announced his order. In the agreement with Univision, Denton cannot launch or participate in a competing digital media enterprise, and he will have nothing to do with his corporate children. Thursday’s court proceedings revealed that Univision’s initial bid during Monday’s auction was $95 million, and ultimately the media company-which also owns The Onion, ClickHole, and soon Gawker as part of their the Fusion Media Group-agreed to pay $40 million more. Had the winning bidder at Tuesday’s private auction been the digital publishing and game company Ziff Davis-which presented a $90 million “stalking bid” in June that set a floor for the auction-Denton would have remained as a consultant for two years.īut Ziff Davis effectively bid only $127.3 million ($131 million, minus a credit of $3.7 million for expenses and a breakup fee)-about $6 million less than Univision.
That question and others will be up for debate as media mavens contemplate Thursday’s sudden death of, the often offensive and occasionally illuminating flagship news and gossip site of Gawker Media Group, as part of a $135 million sale of Nick Denton’s once-thriving digital media company to Univision.Ī few hours after 49-year-old Denton announced to his staff that will cease publication next Monday after 14 years of controversy and buzz, a federal bankruptcy judge approved the transaction in which the company’s six other sites will become a subsidiary of the Hispanic-oriented multimedia powerhouse.
#Gawker crossword pro#
In other words, did Silicon Valley billionaire Peter Thiel savagely kill -or was its demise the inevitable result of a self-inflicted wound, namely the October 2012 decision to publish a grainy sex video featuring celebrity pro wrestler Hulk Hogan (real name: Terry Bollea), who won a $140.1 million judgment against Gawker last March in an invasion of privacy lawsuit secretly financed by Thiel?
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