Gawker files for bankruptcy

Gawker Media has filed for bankruptcy and will be put up for sale: “Gawker Media filed for bankruptcy on Friday, after saying in Florida court that it cannot pay the $140.1 million awarded to actor Hulk Hogan in a case bankrolled by Silicon Valley billionaire Peter Thiel.”

PC Mag publisher Ziff Davis is reported to have submitted an opening bid of $90 million to $100 million. Ziff Davis, which also runs IGN, Geek.com and AskMen.com, is owned by j2Global, “an internet services company with an assortment of internet fax, online phone, email marketing and other communications services.”

Previously: Gawker founder Nick Denton and former editor Albert J. Daulerio take the stand in the Hulk Hogan trial. And billionaire libertarian Peter Thiel is revealed to be the money-man behind the Hogan trial.

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