Deals
Gawker Files for Bankruptcy After Losing Hulk Hogan Privacy Case
- Web company files strategic bankruptcy after sex-tape verdict
- Chapter 11 opens way for sale ‘free and clear’ to Ziff Davis
Gawker Media Files for Bankruptcy
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Call it the Chapter 11 inverted headlock.
Gawker Media has deployed a desperation move to slip out of a potentially crippling $140 million jury verdict in the invasion-of-privacy case brought by former pro wrestler Hulk Hogan and funded by tech billionaire Peter Thiel: The digital-media company filed for bankruptcy Friday to sell its assets to publisher Ziff Davis or another bidder -- free and clear of legal liabilities.