Ultimate week, Nick Denton, founder of Gawker Media, told his staffers he changed into getting out of the news business.
Univision Communications, the Spanish-media language enterprise that offered Gawker’s assets in a financial ruin auction last week, can pay Denton $sixteen,666 a month for the subsequent years to make certain he follows via at the promise, according to a non-compete p.c. blanketed as a part of Denton’s non-public bankruptcy 11 financial disaster filings with the U.S. financial ruin court docket in ny.
Univision Communications, the Spanish-media language enterprise that offered Gawker’s assets in a financial ruin auction last week, can pay Denton $sixteen,666 a month for the subsequent years to make certain he follows via at the promise, according to a non-compete p.c. blanketed as a part of Denton’s non-public bankruptcy 11 financial disaster filings with the U.S. financial ruin court docket in ny.
As part of their p.c., Denton “has agreed not to, immediately or indirectly, companion with any business agency that engages within the business inside the america, Puerto Rico or Hungary” with out Univision’s written consent, the filing examine.
Denton has additionally agreed to refrain from hiring any Univision’s employees or encouraging them to go away.
Univision agreed to pay $one hundred thirty five million remaining week for Gawker's six blogs and plans to integrate them into its English-language online media division, Fusion Media. Gawker.com, Gawker Media's flagship information-and-gossip weblog that changed into no longer part of the deal, shut down operation Monday.
Gawker Media and Denton, who owned approximately 30% of the web publisher, filed for financial ruin protection after a Florida jury observed in March that Gawker.com violated Hulk Hogan's privacy whilst it published a intercourse tape of the previous seasoned wrestler having intercourse with the wife of a chum. The jury provided Hogan, whose real name is Terry Bollea, $140 million in damages.
It was later found out that Peter Thiel, the Silicon Valley billionaire and a co-founding father of PayPal, funded Hogan, chipping in about $10 million to hold on the felony combat.
"i can circulate on to different initiatives, running to make the net a discussion board for the open change of ideas and statistics, but out of the news and gossip enterprise," Denton wrote remaining week in the body of workers memo. "Gawker.com may also, like spy mag in its day, have a 2d act. For the instant, however, it is going to be mothballed, until the smoke clears and a new owner can be found. The records will continue to be, however Monday’s posts will be the ultimate of this generation."
The six Gawker blogs which might be offered through Univision are: Lifehacker (suggestions); Deadspin (sports); Jezebel (girls’s interests); Kotaku (gaming); Jalopnik (automobiles), and Gizmodo (era).
Gawker Media and Denton, who owned approximately 30% of the web publisher, filed for financial ruin protection after a Florida jury observed in March that Gawker.com violated Hulk Hogan's privacy whilst it published a intercourse tape of the previous seasoned wrestler having intercourse with the wife of a chum. The jury provided Hogan, whose real name is Terry Bollea, $140 million in damages.
It was later found out that Peter Thiel, the Silicon Valley billionaire and a co-founding father of PayPal, funded Hogan, chipping in about $10 million to hold on the felony combat.
"i can circulate on to different initiatives, running to make the net a discussion board for the open change of ideas and statistics, but out of the news and gossip enterprise," Denton wrote remaining week in the body of workers memo. "Gawker.com may also, like spy mag in its day, have a 2d act. For the instant, however, it is going to be mothballed, until the smoke clears and a new owner can be found. The records will continue to be, however Monday’s posts will be the ultimate of this generation."
The six Gawker blogs which might be offered through Univision are: Lifehacker (suggestions); Deadspin (sports); Jezebel (girls’s interests); Kotaku (gaming); Jalopnik (automobiles), and Gizmodo (era).
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