Nick Denton of Gawker is a guest on "Good Morning America" on March 24, 2016.
Fred Lee—ABC via Getty Images
August 23, 2016 2:30 PM EDT, the eponymous flagship site of Gawker Media, shut down Monday, following the sale of the sale of the 14-year-old media company to Univision for $135 million in a bankruptcy auction last week.

“It is the end of an era,” site founder Nick Denton wrote in a farewell post.

The sale of the company and the shut down of was caused in large part by losing a $140 million invastion-of-privacy lawsuit to Terry “Hulk Hogan” Bollea in March. It was later revealed that billionaire entrepreneur Peter Thiel had helped fund the lawsuit.

“In cultural and business terms, this is an act of destruction, because was a popular and profitable digital media property—before the legal bills mounted,” Denton wrote. “Gawker will be missed. But in dramatic terms, it is a fitting conclusion to this experiment in what happens when you let journalists say what they really think.”

In an article last week, TIME writer Jack Dickey wrote the following about his experience working for Deadspin, Gawker Media’s still-operating sports site.

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