Gawker (Kotaku parent) Files for Ch. 11 Bankruptcy, Ziff Davis (IGN) looking to buy - NeoGAF
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QuotePeter Thiel is getting closer to his goal: Gawker Media has filed for bankruptcy protection and says it eventually plans to find a new owner for the company. Gawker and owner Nick Denton are making the Chapter 11 filing today, in order to avoid paying Thiel and Hulk Hogan the $140 million judgement they won in Hogan's privacy trial earlier this year. Gawker has told it employees it still plans to fight the Thiel/Hogan case and to operate its publishing business while it does so. But it is also now formally entertaining offers to buy the company and says it has a firm bid from publisher Ziff Davis to buy the entire operation for less than $100 million. More here: http://www.recode.net/2016/6/10/1190...ale-ziff-davis
QuoteThough it's filing for bankruptcy, Gawker has no plans to cease its operations. The company will continue to operate as normal while the bankruptcy process proceeds and it appeals the Hogan judgment. More here: http://www.politico.com/media/story/...m-hogan-004593
QuoteBreaking: Gawker Media files for bankruptcy...https://twitter.com/verge/status/741313624199860224.