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This article was published on May 26, 2016

    Nick Denton may sell his stake in Gawker to Univision

    Nick Denton may sell his stake in Gawker to Univision Image by: Bloomberg
    Nate Swanner
    Story by

    Nate Swanner

    Former Reporter, TNW

    TNW's former West Coast writer in the PNW (Portland, Oregon). Nate loves amplifying developers, and codes in Swift when he's not writing. If TNW's former West Coast writer in the PNW (Portland, Oregon). Nate loves amplifying developers, and codes in Swift when he's not writing. If you need to get in touch, Twitter is your best bet.

    Nick Denton is looking to sell his stake in Gawker, and may already have a buyer willing to spend between $50 and $70 million.

    The New York Post reports that Denton could sell his stake in Gawker media to Univision, which had expressed interest well before a Florida jury awarded Hulk Hogan $140 million in a defamation suit.

    Denton’s 68 percent stake in Gawker may have been worth roughly $170 million based on its $250 million valuation ahead of the trial. Sources claim Gawker’s value has dipped heavily since the verdict.

    Lawyers for Gawker said “we’ve always said we expect to prevail on appeal and we’ve always said we’re exploring contingency plans of various sorts.”

    Good luck, Gawker.