Just a fast as Gawker Media had announced that they were going to file chapter 11 and planned on selling off its properties, Ziff Davis steps in and picks them all up. Yes, you read correctly. Ziff Davis has posted a memo stating that they have purchased the Gawker Media properties, for an undisclosed amount of money. This includes Kotaku, Gizmodo, Lifehacker, Jalopnik, Deadspin, Gawker.com, and Jezebel, all of which will soon be under a different label.
It’s also worth pointing out that while Ziff Davis and Gawker have entered this agreement, it is still possible for another company to put in a higher bid during the auction. So while this may seem ironclad, someone could offer more money. I’m not 100% if Gawker would have to entertain that offer of if they have any say as to where their properties go. But for now, Ziff Davis is the only company in the picture for now.
Just got a press release saying that Gawker has already agreed to sell to Ziff Davis pic.twitter.com/XDzPwWOh21
— Ryan Mac (@RMac18) June 10, 2016
Now, Ziff Davis has expressed interest bringing the former Gawker Media properties over for some time. While Kotaku, Gizmodo, and Lifehacker would bolster their gaming and technology catalogs, while Jezebel, Jalopnik, and Deadspin would be integrated into their lifestyle catalogs. I’m speechless and didn’t expect to see this happen. I mean I figured that Kotaku and a few other websites would live on in one capacity or another, but to see Ziff Davis, just step into the picture and out of now where is a totally different thing.
I just hope that doing this merger or purchase, that the loss of jobs is minimal, if not zero. Sadly, it’s been a trend that when a major website or websites are sold off to another company who has the same products in their stable, that job losses are imminent. Despite if you like any of the former Gawker brands or not, people are people and people have family and other responsibilities. So let’s hope the damage isn’t too severe.
One thing is for sure, someone over at Ziff Davis is probably smiling like the Joker, right now.
Sources – http://www.npr.org/sections/thetwo-way/2016/06/10/481565188/gawker-files-for-bankruptcy-it-faces-140-million-court-penalty
http://www.nytimes.com/2016/06/11/business/media/gawker-bankruptcy-sale.html
http://www.adweek.com/news/press/gawker-has-filed-bankruptcy-and-says-it-will-sell-ziff-davis-171937
http://www.thedrive.com/news/3927/jalopnik-has-been-sold-as-part-of-gawker-bankruptcy-deal?xid=the-drive_socialflow_twitter
