Gawker Media LLC filed for bankruptcy and put itself up for sale after losing a $140 million invasion-of-privacy suit brought by former professional wrestler Hulk Hogan and funded by tech billionaire Peter Thiel.
The bankruptcy would shield New York-based Gawker from paying the potentially crippling damages awarded by a Florida jury while the company seeks a buyer. The digital media company also asked the court to shield founder and chief executive officer Nick Denton from the Hogan suit and other litigation.
It listed a $130 million claim from the Hogan case as “disputed” in its Chapter 11 petition, filed June 10 in ...
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