Following what will be at least $140 million in losses after coming up short in the lawsuit with Hulk Hogan, Gawker has announced that they will be shutting down operations starting next week.
Gawker posted the following statement today announcing that after 14 years, they will be shutting down the shop.
“After nearly fourteen years of operation, Gawker.com will be shutting down next week. The decision to close Gawker comes days after Univision successfully bid $135 million for Gawker Media’s six other websites, and four months after the Silicon Valley billionaire Peter Thiel revealed his clandestine legal campaign against the company.
“Nick Denton, the company’s outgoing CEO, informed current staffers of the site’s fate on Thursday afternoon, just hours before a bankruptcy court in Manhattan will decide whether to approve Univision’s bid for Gawker Media’s other assets. The near-term plans for Gawker.com’s coverage, as well as the site’s archives, have not yet been finalized.”
Hulk Hogan took to Twitter after finding out about the news. He posted this tweet:
Like I said"I Slammed another Giant today Brother". HH
— Hulk Hogan (@HulkHogan) August 16, 2016
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