Univision Holdings Inc won a bankruptcy auction on Tuesday to acquire U.S. internet publisher Gawker Media LLC for $135 million, outbidding media company Ziff Davis LLC, which had made an initial offer of $90 million.

Univision’s winning bid for Gawker, which will go before a U.S. bankruptcy judge on Thursday, shows how the U.S. Spanish-language broadcaster is seeking to expand its digital media properties and is not shying away from a news brand that has often courted controversy to build a cult readership.

Univision was the only challenger to Ziff Davis, whose stalking horse bid had set the floor for others in the auction.

READ FULL ARTICLE HERE