Multiple media outlets reported Tuesday that Gawker Media, the embattled online media company that has been the target of multiple lawsuits, announced that it had been acquired by Univision for $135 million. Univision beat out a lower bid by Ziff Davis

The deal must formally be approved by the federal judge overseeing Gawker’s bankruptcy case.

Univision, which owns the largest Spanish-language television network in the United States, has recently been expanding its online holdings. Earlier this year it bought out Disney’s stake in the Fusion network and website. Univision also expanded investments in The Onion, a humor site, and The Root, a site that focuses on African-American news.

In a statement to several media organizations, Gawker founder Nick Denton said the following:

Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America’s largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences. I am pleased that our employees are protected and will continue their work under new ownership—disentangled from the legal campaign against the company. We could not have picked an acquirer more devoted to vibrant journalism.

As Ars reported in April 2016, Gawker has already begun the process of appealing the $140 million verdict a jury ordered it to pay in March 2016 for publishing a sex tape of Terry Bollea. Bollea is better known as former pro-wrestler Hulk Hogan.

Gawker was sued again in May 2016 by the same lawyer who brought the Hogan case on behalf of a man who claims to have invented e-mail. In that suit, plaintiff Shiva Ayyadurai demands $35 million from Gawker (Gizmodo's parent company) and a public retraction of Gizmodo’s 2012 articles, which reported: "Corruption, Lies, and Death Threats: The Crazy Story of the Man Who Pretended to Invent Email" and "The Inventor of Email Did Not Invent e-mail?"