The Spanish-language broadcaster Univision has agreed to buy Gawker for $135 million, CNN reported Tuesday night.
"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," Nick Denton, the website’s founder, told CNN 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," Denton added.
The deal is still pending approval by a bankruptcy judge.
Gawker was forced to file for bankruptcy earlier this month after losing a $140 million lawsuit to former professional wrestler Hulk Hogan.