Gawker Media sold to Univision in bankruptcy auction

Online news site Gawker Media has been sold to media firm Univision for $135m in a bankruptcy auction.

The firm outbid media rival Ziff Davis to seal the deal, which still hinges on approval from a bankruptcy judge.

The sale comes after Gawker filed for bankruptcy protection in June to avoid paying damages after it lost a $140m invasion of privacy lawsuit brought by former wrestler Hulk Hogan.

Gawker owner Nick Denton said he was "pleased" by the deal.

"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," he said in a statement.

Gawker was sued by Hulk Hogan, whose real name is Terry Bollea, after the website published a video from 2007 of Mr Hogan having sex with the wife of a friend.

During the three-week trial Gawker defended its right to publish the video as part of its celebrity news coverage, while Mr Hogan argued it had been an invasion of his privacy.

The jury ruled in the former wrestler's favour and ordered Gawker to pay $115m in compensation and $25m in punitive damage.

In May a judge denied Gawker's request for a new trial.

In a twist revealed after the trial, it was discovered that Mr Hogan's legal bills were paid by PayPal cofounder and tech billionaire Peter Thiel.

Mr Thiel said he wanted to curb Gawker's "bullying". In 2007 Mr Thiel clashed with Gawker after the site published an article that outed him as gay.