By Reuters
(NEW YORK) — Univision Holdings Inc won the bankruptcy auction for U.S. internet publisher Gawker Media LLC on Tuesday with a bid of $135 million, beating media company Ziff Davis LLC, according to people familiar with the matter.
The results of the auction will now go before a U.S. bankruptcy court judge for approval on Thursday.
The sources asked not to be identified because the outcome of the auction is not yet public. Univision, Ziff Davis and Gawker did not immediately respond to requests for comment.
(Reporting by Jessica DiNapoli in New York)
More Must-Reads From TIME
- Jane Fonda Champions Climate Action for Every Generation
- Biden’s Campaign Is In Trouble. Will the Turnaround Plan Work?
- Why We're Spending So Much Money Now
- The Financial Influencers Women Actually Want to Listen To
- Breaker Sunny Choi Is Heading to Paris
- Why TV Can’t Stop Making Silly Shows About Lady Journalists
- The Case for Wearing Shoes in the House
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at letters@time.com