Gawker.com, facing a $140 million jury verdict for publishing a sex tape of Terry Bollea (better known as pro wrestling icon Hulk Hogan), is shuttering operations next week, according to a post on the site.

"Nick Denton, the company’s outgoing CEO, informed current staffers of the site’s fate on Thursday afternoon, just hours before a bankruptcy court in Manhattan will decide whether to approve Univision’s bid for Gawker Media’s other assets," the website said. "Staffers will soon be assigned to other editorial roles, either at one of the other six sites or elsewhere within Univision. Near-term plans for Gawker.com’s coverage, as well as the site’s archives, have not yet been finalized."

Univision acquired Gawker Media for $135 million on Tuesday. Gawker Media's other holdings include Gizmodo, Deadspin, Jezebel, Lifehacker, Kotaku, and Jalopnik. The company filed for Chapter 11 bankruptcy two months ago and went up for sale following the jury's verdict.

Silicon Valley venture capitalist Peter Thiel, who a decade ago was outed as being "totally gay" by Gawker's now-defunct Valleywag site, had bankrolled Hulk Hogan's litigation.