Gawker announced on Thursday that they will be shutting down their operations from next week after 14 years online. The company lost a staggering $140 million in their lawsuit against WWE Hall of Famer Hulk Hogan earlier this year.

The following statement was issued:

“After nearly fourteen years of operation, Gawker.com will be shutting down next week. The decision to close Gawker comes days after Univision successfully bid $135 million for Gawker Media’s six other websites, and four months after the Silicon Valley billionaire Peter Thiel revealed his clandestine legal campaign against the company.

“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 near-term plans for Gawker.com’s coverage, as well as the site’s archives, have not yet been finalized.”

Hulk Hogan tweeted the following tweet upon hearing the news:

Like I said"I Slammed another Giant today Brother". HH.