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Gawker bought by Bustle founder for just $1.35M at auction

By
Julia Marsh
Published July 12, 2018
Updated July 12, 2018, 3:57 p.m. ET

The gossip website Gawker​ ​– which was worth an estimated $100 million before ​former pro wrestler Hulk Hogan won a $140 million verdict against the company for publishing his unauthorized sex tape​ ​– was sold for just $1.35 million at auction Thursday.

Digital entrepreneur Bryan Goldberg, who founded The Bleacher Report and owns Bustle, beat out two other bidders during an auction process that lasted under an hour, a source told The Post.

Goldberg prevailed over the New York-based marketing firm Didit and another marketing company called Next Net Media.

The sale still has to be approved by a Manhattan bankruptcy judge at a hearing scheduled for next week.

Univision bought the sister websites of Gawker.com for $135 million in 2017– but the media giant didn’t want the gossip site because it was considered too toxic.

Experts had expected the sale of Gawker.com to bring in at least $5 million. The site was valued at $100 million prior to the Hogan verdict.

Forty-five percent of any sale proceeds will go to Hogan and the other 55 percent to equity owners including founder Nick Denton.