Monday, August 15, 2016
Three LA Companies Pursuing Gawker Media
Three, Los Angeles area media companies--Univision, Ziff Davis (a unit of J2 Global) and Penske Media--have all been named as possible bidders on bankrupt, Silicon Valley publication Gawker Media, according to reports today, which say Ziff Davis has submitted a $90M bid for the company. Gawker--which was sent into bankruptcy by an invasion-of-privacy lawsuit by Hulk Hogan, which was funded by Silicon Valley billionaire Peter Thiel--started taking bankruptcy bids this morning. Ziff Davis is part of the giant empire of Los Angeles-based J2 Global, which now owns a large number of online publications, in addition to a large collection of cloud backup, email, fax, and other services. Penske is the owner of Deadline and Variety.