It’s the end of an era for Gawker and CEO Nick Denton, who founded the company in 2002 and has long boasted of its independence. In April, it bought out Disney's half of Fusion, an English-language cable network and digital media venture targeted at millennials. It bought The Root, an African-American news site, in May 2015 and acquired a controlling stake in satirical news site The Onion in January. Over the past two years, Univision has been expanding its reach into English-language digital media companies, in preparation for a planned IPO that is expected to take place next year. It’s worked well for Gawker,” WGAE executive director Lowell Peterson told POLITICO. Gawker's editorial staff voted to unionize with the Writers Guild of America-East last year and ratified a collective bargaining agreement with the company in March.īefore the auction, Gawker's employees and the WGAE said that any company that acquired Gawker should keep the current union contract. Univision will also honor Gawker's current union contract.
Two people with knowledge of the bid told POLITICO that Univision agreed to keep at least 95 percent of Gawker's current staff and to take over Gawker's current leases in New York (at 114 Fifth Avenue) and Budapest. A judge will certify Univision's winning bid for Gawker's assets later this week and the sale will officially close early next month.
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