A bankruptcy judge approved Gawker Media LLC ’s $135 million asset sale to a unit of Univision Communications Inc. under a deal that will allow most employees to keep their jobs while cutting loose the online media company’s founder, Nick Denton.

The takeover builds on Univision’s push to reach a younger, more diverse audience, while steering clear of the kind of controversy that pushed Gawker into Chapter 11. U.S. Bankruptcy Judge Stuart Bernstein approved the deal at a hearing in Manhattan Thursday.

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