To Shut Down Next Week

U.S. internet publisher Gawker Media Group said on Thursday that it would shut operations of online news and gossip website next week, ending a 14-year run.

Gawker said near-term plans for the website's coverage and its archives have not yet been finalized. (

The decision comes two days after Univision Holdings Inc (UVN.N) won a bankruptcy auction to acquire Gawker for $135 million, outbidding media company Ziff Davis LLC.

Gawker sought bankruptcy in June after facing a $140 million court judgment following an invasion of privacy lawsuit from former professional wrestler Hulk Hogan over the publication of excerpts from a sex tape.

Banner/thumbnail credit: Reuters

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