The information web site Gawker.com will shut down subsequent week, simply days after its mother or father firm was bought by Univision.
Gawker founder Nick Denton informed workers on Thursday afternoon, a post on its web site mentioned.
Media agency Univision agreed to purchase Gawker Media for $135m (£103m) at a chapter public sale.
Gawker filed for chapter after shedding a $140m privateness lawsuit introduced by former wrestler Hulk Hogan, paid for by Paypal co-founder Peter Thiel.
Mr Thiel funded Mr Hogan’s case saying he needed to curb the corporate’s “bullying”, after the location revealed an article that outed Mr Thiel as homosexual.
Based 14 years in the past, Gawker is understood for its no-holds-bar strategy to reporting, together with breaking gossip tales on high-powered celebrities and enterprise leaders.
Univision is mostly recognized within the US because the nation’s greatest Spanish-language media firm. It additionally owns a 40% stake within the satirical web site The Onion.
‘Shedding Gawker.com hurts’
In a memo to his workers, seen by the information company AP, Mr Denton mentioned: “Sadly, neither I nor Gawker.com, the buccaneering flagship of the group I constructed with my colleagues, are coming alongside for this subsequent stage.
“We’ve got not been capable of finding a single media firm or investor prepared additionally to tackle Gawker.com. The marketing campaign being mounted in opposition to its editorial ethos and former writers has made it too dangerous. I can perceive the warning.”
He added that he would transfer out of the information and gossip enterprise however “work to make the net a discussion board for the open trade of concepts and knowledge”.
A US chapter courtroom later accepted Univision’s buy of Gawker Media, which owns seven web sites in complete.
They’re: Gawker.com, Deadspin, Lifehacker, Gizmodo, Kotaku, Jalopnik, and Jezebel.
The submit on Gawker’s web site mentioned plans for future protection and its web site’s archives had not but been finalised.
Gawker workers took to Twitter to specific their disappointment concerning the determination to close down the websites.
“Our different websites, together with Kotaku, stay on, however shedding the colourful Gawker.com hurts,” tweeted Stephen Totilo, editor-in-chief of Kotaku.
Bobby Finger, a workers author for Jezabel, tweeted, “I am one in every of numerous individuals who owes Gawker so, so, a lot.”
One other workers author, Jordan Sargent, wrote: “Gawker is useless as a result of Peter Thiel (w the assistance of Charles tougher) has succeeded in making a world the place proudly owning gawker is just not viable.”
Former Gawker reporter Sam Biddle wrote merely, “I’m heartbroken”.
Earlier this 12 months Gawker was sued by Hulk Hogan, whose actual identify is Terry Bollea, after the web site revealed a video of Mr Hogan having intercourse with the spouse of a buddy from 2007.
A 3-week trial ended with the jury ruling within the former wrestler’s favour and ordering Gawker to pay $115m in compensation and $25m in punitive harm.
Gawker requested the choose for a brand new trial, however that request was rejected. Many consultants although anticipate that the unique verdict might be overturned on attraction.