(credit: Scott Beale / Laughing Squid)

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.