Gawker Media Enters Into Purchase Agreement With Media Company Ziff Davis After Filing Bankruptcy!

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63,766
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DESCRIPTION

Shortly after Gawker Media filed for Chapter 11 bankruptcy, the media company announced that it had entered into an asset purchase agreement with Ziff Davis, a global digital media company that is a subsidiary of j2 Global, Inc. During the sale process, Gawker Media's seven media brands will continue with their usual operations, according to a press release. Other bidders can still offer a higher price for Gawker Media, which will be sold in a bankruptcy court supervised auction, the press release states.

Posted By: @QWorldstar

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