News site Gawker.com is set to shut down, following a damaging lawsuit.
A post on its website announced the closure of the site, just days after its parent company was purchased by media firm Univision for $135m (£103m).
Terry Bollea – professionally known as Hulk Hogan – brought a privacy lawsuit against Gawker Media earlier in 2016. Gawker.com had published a compromising video featuring him and the wife of a friend, dating back to 2007. After a three week trial, the jury ruled in favour of Hogan and ordered Gawker to pay $115m (roughly £877m) in compensation, with an additional $25m (£190m) in punitive damage.
The former wrestler’s lawsuit was funded by Paypal co-founder Peter Thiel, who claimed he wanted to put a stop to Gawker’s “bullying”, after an article appeared on the site outing Thiel as gay.
The lawsuit resulted in Gawker Media filing for bankruptcy. The parent company was bought by Univision, who has saved its other sites – Deadspin, Lifehacker, Jezebel, Gizmodo, Kotaku and Jalopnik – but not the controversial news outlet.
Gawker was founded in 2002, and has built a reputation for its frank and unfiltered approach to news during its 14 year lifespan.
Founder Nick Denton said: “Sadly, neither I nor Gawker.com, the buccaneering flagship of the group I built with my colleagues, are coming along for this next stage.
"We have not been able to find a single media company or investor willing also to take on Gawker.com, the campaign being mounted against its editorial ethos and former writers has made it too risky. I can understand the caution.”
Denton continued to say that he will go on to “work to make the web a forum for the open exchange of ideas and information.”Return to internet news headlines
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