On May 25, Gawker will hear if its request to have the $140 million jury award reduced has been granted. In addition, it is also waiting to find out if it has to post a $50 million bond while there is an appeal of the verdict. In Florida, in order to appeal a verdict, a certain amount of money has to be deposited in escrow.
Meanwhile, Gawker's founder, Nick Denton, seems open to at least one option for how it can survive financially. The New York Post reports:
"Latin media powerhouse Univsion ... has discussed partnering with or investing in the New York-based digital media outfit ..."
If Univision becomes part of Gawker, Denton could lose some or much of his editorial control. That might have already been impacted by the investment of Columbus Nova in the tabloid. The investment was made before the Hogan trial. The media speculated the funding would help to pay Gawker's legal costs for that phase of litigation. An appeal could also incur big legal costs.
Currently, Denton does not seem to be able to negotiate from a position of strength. After years of being a high-flyer, digital media is experiencing trouble.
Mashable laid off its chief executive officer and about two dozen staffers. Demand Media sold its humor site Cracked to E.W. Scripps. Yahoo had killed off many of its digital publications, ranging from Yahoo Food to Parenting.
Interestingly, in the lucrative field of public relations, research and experience show that clients prefer that their opinion-editorials, articles and interviews appear in establishment media. Sure, there is still outreach to bloggers and digital news media such as Abovethelaw. There is also a lot of posting on media without gatekeepers such as LinkedIn Pulse, Medium and Facebook Live. But, those who can afford well-connected public relations representatives want to be in The Wall Street Journal and The Washington Post.