Univision Shuts Down Gawker, Hulk Hogan Reacts

Univision Shuts Down Gawker, Hulk Hogan Reacts”

Denton has slammed what he called a "personal vendetta" and said in a memo to staff that it was "disturbing to live in a world in which a billionaire can bully journalists because he didn't like the coverage".

Hogan, whose real name is Terry Bollea, filed the lawsuit after a sex tape involving the wrestler was published on the website.

After this incident, Peter Thiel spend millions on funding third party lawsuits against the company.

The company has not revealed exactly what day will go offline, but it will be before August 25. is going to shut down as its parent company is sold to Univision, a reporter for the 14-year-old site said Thursday, Aug. 18, 2016.

The decision does not effect Gawker's other properties including Deadspin, Gizmodo and Jezebel.

Following the recent news of's closing, comments have flooded the site's page.

Nick Denton will stick around for another two years with an annual salary of $200,000, but only as a consultant and under the requisition of fulfilling a non-compete clause.

Years later, Thiel insisted that his role in Bollea's lawsuit was meant to stop a "singularly awful bully", even as critics raised concerns that the lawsuit could have larger implications for media properties and their vulnerability to wealthy plaintiffs.

Following a 2007 Gawker article that said he was gay, Thiel anonymously funded a series of lawsuits against the media organization.

The popular, controversial website will cease operations next week, marking the end of a longstanding feud between the site's organizers and Silicon Valley entrepreneur Peter Thiel.

Spanish-language broadcaster Univision won an auction Tuesday for Gawker Media, which was put on the block in the aftermath of a $140 million judgment against it in the Hulk Hogan invasion-of-privacy case.

Thiel recently defended his actions in a New York Times op-ed, arguing that "the defense of privacy in the digital age is an ongoing cause" and that "whatever good work" Gawker has done "will continue in the future".

After the case ended with a decision in Hogan's favor, Gawker Media claimed between $50 million and $100 million in assets, and between $100 million and $500 million in liabilities, as we've reported. Many experts though expect that the original verdict will be overturned on appeal.

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