Univision Holdings Inc. and Ziff Davis are competing to become the new owner of Gawker Media, the online media and blog network currently in bankruptcy.
Bloomberg reported Tuesday that Univision, owner of the nation's largest Spanish-language TV network, and media company Ziff Davis, reportedly offering $90 million, are the only companies to enter bids.
A Univision spokesperson declined comment on the reported bid. A winning bid could be announced later Tuesday.
A takeover of Gawker Media would contribute to Univision's efforts to expand its digital media properties aimed at reaching younger consumers. Earlier this year, Univision took over ownership of the cable network Fusion, which targets millennial viewers. The company has recently added to its digital portfolio by taking stakes in the online humor site the Onion and the African-American news site the Root.
Gawker Media's properties include the flagship gossip site Gawker, the female-oriented Jezebel, the sports site Deadspin, the tech-oriented Gizmodo and Jalopnik, which is aimed at auto enthusiasts.
The company founded by Nick Denton, was forced into bankruptcy this spring after a Florida jury awarded $140 million to Terry Gene Bollea, better known as Hulk Hogan, who had sued Gawker for invasion of privacy.
Gawker posted an excerpt of a sex tape featuring Bollea and a friend's wife.
