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Univision agrees to buy bankrupt Gawker media for reported $135 million

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NEW YORK (CNNMoney) — It’s official: Univision has agreed to buy Gawker media.

The primarily Spanish-language broadcast company is set to acquire the bankrupt news and gossip site, Gawker founder Nick Denton told CNNMoney. The purchase price is reportedly $135 million.

“Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences,” he said in an email.

“I am pleased that our employees are protected and will continue their work under new ownership — disentangled from the legal campaign against the company. We could not have picked an acquirer more devoted to vibrant journalism,” he said.

The deal will, if approved by a bankruptcy judge, give Univision ownership of all seven Gawker Media websites, including Gawker.com, Deadspin and Jezebel.

Gawker filed for bankruptcy last month after Hulk Hogan won a $140 million judgment in a privacy case involving Gawker’s publication of a private sex tape.

Ziff Davis had offered $90 million for Gawker Media, but reportedly bowed out after Univision put up a higher offer.