It was Hulk Hogan who drove them into the ground when he sued over the sex tape and won a couple hundred million forcing them to file bankruptcy.I thought Gawker got sued for big money and declared bankruptcy.
Then Univision bought all the brands and later sold them to some PE firm. I don't know how many, but deadspin, Jalopnik (which has also turned to shit) and Gizmodo were part of it.