Gawker, the embattled gossip website, is shutting down next week after 14 years in operation, the company said Thursday. The surprise announcement comes just two days after broadcaster Univision Holdings Inc. submitted the winning bid to buy Gawker Media in bankruptcy court for $135 million. Other Gawker Media sites, such as the tech-oriented Gizmodo, and Kotaku, which is aimed at gamers, have seen strong growth. “What Gawker has is a financial problem, not an audience problem.”Digiday reported that Gawker Media took in revenue of $48.7 million in 2015. In the weeks leading up to the bankruptcy auction, there had been speculation that dozens of media companies were interested in Gawker Media.

Source: Los Angeles Times August 18, 2016 17:43 UTC