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Peter Thiel Bids on Gawker Assets Amid Bankruptcy

  • Story archive is for sale after Univision bought Gawker
  • Among gossip’s site assets is a potential claim against Thiel
Bloomberg business news

Peter Thiel Is Silicon Valley's Walking Contradiction

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Peter Thiel made an offer to purchase some assets of Gawker Media LLC, the news and gossip site he helped bankrupt in 2016 by secretly funding a lawsuit, said a person familiar with the offer.

Although media company Univision Holdings Inc. purchased many of Gawker’s assets in 2016, the site’s archives, including stories about Thiel himself, are still for sale. Key among Gawker’s assets is a potential claim against Thiel. Bankruptcy law gives creditors the right to investigate how value was destroyed and, if the evidence supports it, bring lawsuits to recoup losses. If Thiel is successful in his bid, he could halt such action as the new owner. It’s unclear how much he offered.