Gawker.com to shut down following Univision acquisition

Gawker's flagship site -- Gawker.com -- will not continue to operate under its new owners, a sudden end to one of the most controversial and contentious digital media websites.

Gawker's own media reporter confirmed reports that began to emerge on Thursday that Gawker.com would be shut down. The site will cease to operate sometime next week.

"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," wrote J.K. Trotter.

Univision agreed to acquire Gawker Media, which includes Gawker.com and other verticals like Deadspin and Jezebel, for $135 million, having outbid Ziff Davis during Gawker's bankruptcy-induced auction process.

The site's archives will reportedly remain online, and its staff will be offered positions at the company's other verticals.

As for Denton, he will not be joining Univision. In a memo sent to staff after a judge made the sale official, Denton said that he would not be part of the movie.

"Sadly, neither I nor Gawker.com, the buccaneering flagship of the group I built with my colleagues, are coming along for this next stage," he wrote.

Denton noted with a tone of defeat that "Even if the appeals court overturns this spring's Florida jury verdict, Peter Thiel has already achieved many of his objectives."

Gawker is still reeling from the $140 million judgement found against the company as well as its CEO and cofounder Nick Denton and former editor A.J. Daulerio, leveled by a Florida jury that decided Gawker had violated the privacy of wrestler Hulk Hogan for posting a clip of his sex tape.

While Gawker.com may not continue under Univision, there are some ways it could still survive. One theory that has gained traction in media circles is that the site will remain in limbo until Gawker's appeal of its privacy lawsuit with Hogan is resolved.

If Gawker Media wins the appeal, Denton would be in line for a large chunk of the $135 million that Gawker Media sold for. He might then buy Gawker.com back from Univision.

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The problem with this theory is that Denton reportedly has a non-compete clause that would prevent him from operating a competing website.

A request for comment sent to Univision was not immediately returned. Spokespeople for Gawker and Fusion declined to comment.

As for Denton's future, that is also up in the air. Univision has not publicly stated if Denton will stay on. Univision's desire to distance itself from Gawker could indicate that it does not plan to keep Denton in the loop.

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Denton hinted in his memo that he will start something new.

"I will move on to other projects, working to make the web a forum for the open exchange of ideas and information, but out of the news and gossip business," he wrote.

He also left the door open for a return of Gawker.com.

"Gawker.com may, like Spy Magazine in its day, have a second act," he wrote. "For the moment, however, it will be mothballed, until the smoke clears and a new owner can be found."