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Gawker Writers Lament Bankruptcy That Will Diminish Nick Denton

Gawker Media Group files for bankruptcy and says it's selling itself

If Peter Thiel’s goal was to punish Gawker owner Nick Denton, then the tech billionaire has succeeded. Gawker Media Group filed for Chapter 11 bankruptcy today and it's being sold to the highest bidder.

The company released a statement saying it had agreed to sell its seven media brands and other assets to Ziff Davis, which owns the video game site IGN and PC Magazine. The sale is through a court-supervised auction, in which other potential owners could offer higher bids. Ziff Davis has said it would pay around $100 million, according to a person familiar with the matter.