![]() ![]() Update: Gawker Media has officially confirmed the interest from Ziff Davis. That said, it seems unlikely Gawker will be sold off until the lawsuit is resolved in one way or another - it'll likely be a tough sell while it's still in the middle of this legal battle.Īnother unique aspect of Hogan's lawsuit is that other tabloid-style blogs like TMZ and Perez Hilton have thus far managed to avoid being singled out because of their sometimes-questionable reporting styles - Gawker, however, happened to cross paths with the wrong billionaire. The filing revealed that Gawker has assets between $50 and $100 million, compared to liabilities in the $100 to $500 million range - with the lawsuit being chief among them.įiling for bankruptcy gives Gawker and its founder Nick Denton time to restructure the company without having to immediately shut down (or pay the jury damages in the Hogan case). Today's Chapter 11 filing is a direct result of the combined efforts of Hogan and Thiel to take the company down. It was revealed that Thiel had been bankrolling the entire lawsuit because of a personal vendetta against the blog after it published an article on his sexual orientation way back in 2007. ![]() However, things in the case got even weirder following the jury's $140 million judgement against Gawker Media. You can disable notifications at any time in your settings menu. ![]()
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