Com To Be Discontinued Under New Ownership, the flagship site of Gawker Media, will cease publication next week, according to a statement by Gawker Media founder Nick Denton delivered to staff on Thursday and reported by the site. It hasn't finalized plans for what will happen to its archives, but its employees will be transferred to positions within Gawker Media or Univision's other properties.

The shutdown comes on the heels of Univision purchasing Gawker Media Wednesday for $135 million after a $140 million judgment stemmed from the Hulk Hogan invasion of privacy case, which was bankrolled by Peter Thiel.

Univision was bidding against the internet company Ziff Davis in a bankruptcy auction.

"The loss of Gawker is huge & bad", tweeted Glenn Greenwald, founder of news outlet The Intercept and the journalist who introduced the world to Edward Snowden, adding that he "still can't believe journalists cheered Thiel". It was later discovered that Peter Thiel was secretly financing the lawsuit. Gawker Media filed for chapter 11 bankruptcy protection in June after a Florida judge upheld the verdict. said in its post that staffers will be assigned to other editorial roles at one of the six other sites or at Univision.

"Our other sites, including Kotaku, live on, but losing the vibrant hurts", tweeted Stephen Totilo, editor-in-chief of Kotaku. Founder Nick Denton will leave after the sale.

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Hogan sued Gawker after it posted a video of the entertainer having sex with the then-wife of his former friend, Bubba the Love Sponge Clem.

The main Gawker website will be shutter following the successful bid by Spanish language broadcaster Univision in this week's bankruptcy auction.

The news - appropriately enough, broken by Gawker itself - follows the sale of the site's parent company to Univision. attracted some 18 million monthly US visitors every month.

Oxford University-educated Denton started out of his NY apartment in 2002 with the stated mission of putting "truths on the internet".

FMG also includes Story House, a development and production unit that produces original content for UC's portfolio of owned networks as well as third-party networks and platforms.

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