August 15, 2016
Gawker Media ends 14 years of independence tonight. The company declared bankruptcy in the wake of a lawsuit against it, and has been up for sale since. Bids for the the online media company are due at 5 p.m. tonight.
Here’s who might walk away with the blogging network, which includes blogs like Gawker.com, Gizmodo, Jezebel and Deadspin.
These guys placed the first bid, setting the bar at $90 million. A legacy magazine publisher, Ziff Davis runs men’s lifestyle and tech sites like Geek.com and AskMen.com. Fortune reports the main reason why this bid might go through:
“Gawker founder Nick Denton is said to favor the Ziff Davis bid—in part because the deal involves him staying on as a consultant to the company. The deal also leaves the door open to Denton potentially buying back the main Gawker website, while Ziff Davis takes the other sites such as Gizmodo and Jezebel.”
Denton buying back the Gawker.com site would be the best end to this whole debacle, as it has been the main rabble-rouser, but doesn’t quite fit the Ziff Davis style.
Vox already has a large stable of millennial-focused sites, so in one sense, buying the popular online media company makes demographic sense. But on the other hand, the two are such major players that it feels a little incestuous. Penske Media, owner of Variety magazine, might team up with Vox so that the two can go in on a bid for the Gawker sale.
This Spanish-language media company has expressed interest in a bid. They’ve been trying to expand online for a while: The company already owns Fusion, a buy that seems to have gone well. They’re one of those large, faceless corporations that Gawker’s upstart brand is (currently) aligned against.
New York Magazine
Though itself a small organization, New York Magazine is owned by the Wasserstein family trust, the New York Times reports. They already own similar online brands, Vulture and The Cut, so adding the Gawker network would make strategic sense, though the price tag is likely too high.
Did you like this article?
Get more delivered to your inbox just like it!