What Gawker Media Acquisition Means for Univision

Univision appears to be beefing up for what could be a much-anticipated initial public offering after purchasing Gawker Media for $135 million.

Jerrold Bregman, a bankruptcy expert at Brutzkus Gubner, thinks that an upcoming IPO would be an obvious reason why Univision decided to purchase Gawker Media but close flagship Gawker.com. Bregman feels the decision to shut Gawker.com is simply a “pragmatic, forward-thinking business decision” because having a website tainted by a major legal loss would be a distraction.

“The decision to close and discontinue that website may be tied to the upcoming liquidity event in the following way: They may conclude that continuing operations of that particular website has associated liability risks, which are legacy risks, even though they bought the asset free and clear of actual pre-existing liability,” Bregman told TheWrap. “They may feel the publication itself is a bit of a lightning rod.”

Also Read: How Nick Denton Could Relaunch Gawker.com

A Florida jury awarded Hulk Hogan $140 million in damages earlier this year after Gawker posted a sex tape of the wrestler.

Univision postponed an IPO back in December of 2015, because of what the Wall Street Journal called “the lackluster recent performance of media-company stocks and a sluggish market for first-time share sales.” In April of this year, Bloomberg reported that Univision was aiming to go public in the second half of 2016.

Univision did not immediately respond to TheWrap’s request for comment.

Also Read: Peter Thiel Won, Gawker Lost, the 1 Percent Scores, Democracy Loses

Most of Univision’s revenue comes from traditional TV advertising and cable subscriptions, but it is clearly aware that it needs a presence in non-cable mediums in the media world.

Univision has been on a spending spree in 2016, acquiring new assets to increase it’s overall portfolio. The company bought The Onion in January and bought out Disney’s portion of Fusion in April. It also acquired The Root, a publication aimed at African-Americans.

Now you can add Gawker Media’s Deadspin, Gizmodo, Jalopnik, Jezebel, Kotaku, and Lifehacker to the fold.

Hulk Hogan Timeline: From Hulkamania to Gawker Sex Tape Trial (Photos)

Hulk Hogan was born Terry Bolea and attended high school in Tampa, Fla.
Thomas Richard Robinson High School
Hogan broke into the wrestling business in the late 1970's, working under names like Terry Boulder.
WWE
Hogan and his 24-inch pythons ran wild when Hulkamania swept the globe in the 1980's.
WWE
Hogan shocked the world when he bodyslammed the 520-pound Andre the Giant at Wrestlemania III.
WWE
Hogan's movie debut was in "Rocky III" as Thunderlips, a wrestler Rocky takes on at a charity event.
MGM
Hogan later starred alongside Christopher Lloyd in "Suburban Commando," one of many critical and commercial bombs Hogan was involved in.
New Line
Hogan admitted to taking steroids while testifying during a federal trial against WWF owner Vince McMahon. Hogan denied McMahon supplied or forced him to take the steroids, resulting in McMahon's acquittal.
WWE
Hogan left WWF and competed in WCW from 1994 to 2000. While there, he teamed with Scott Hall and Kevin Nash to form the infamous New World Order.
WWE
Hogan returned to WWF in 2002 and faced off against The Rock at Wrestlemania X8.
WWE
Hogan starred in "Hogan Knows Best," a reality show with his family, from 2005 to 2007. The show was abruptly cancelled after Hogan's wife, Linda Claridge, filed for divorce when she discovered Hogan cheated on her during filming.
VH1
A few months prior to the divorce, Hogan was harshly criticized after his son was sent to jail for reckless driving that left a friend with irreversible brain damage. Tapes released by local police revealed Hogan and his son blaming the victim during a phone call and planning to capitalize on the crash with a reality TV deal.
Clearwater PD
Hogan moved to TNA Wrestling in 2010, immediately becoming a major character in the promotion. He returned to WWE in 2014.
TNA
A clip from a sex tape featuring Hogan and Heather Clem, ex-wife of Bubba The Love Sponge, is published on Gawker in October 2012.
Getty Images
After returning to WWF, now called WWE, in 2014, Hogan was fired in July 2015 after a racist rant from his sex tapes was released by the National Enquirer.
WWE
On March 7, the trial between Hogan and Gawker began. Hogan is suing Gawker for $100 million in damages, accusing the outlet of invasion of privacy.
AP
On March 18, Hogan was awarded $115 million (more than the amount he was seeking) after a ten-day trial and less than a day of deliberation by the jury.
Getty Images