Univision Holdings Inc. is putting up some competition for Ziff Davis‘ bid to acquire Gawker Media after the online publisher’s bankruptcy.
The two media giants are reportedly locked in a competition to acquire Gawker in order to expand their digital properties and make inroads with younger online audiences. Ziff Davis made the first major offer for Gawker back in June, when it made a $90 million “stalking horse” bid, which included an agreement to allow Gawker founder Nick Denton to remain with the company under a consulting contract.
In the meantime, Reuters reported a source close to the bankruptcy auction claims that Univision is the only other organization making a serious offer on Gawker. This comes after an investment banker representing Gawker said he planned to market the company to a list of 40 potential buyers.
Denton declared bankruptcy earlier this month, which came after the media giant lost a major invasion-of-privacy lawsuit for publishing Hulk Hogan‘s sex tape. Hogan’s lawsuit was sponsored by PayPal founder Peter Thiel, who has held a vendetta against Gawker ever since it outed him in 2007.
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