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Gawker Files for Chapter 11; Won't Pay Peter Thiel
Accepted submission by -- OriginalOwner_ http://tinyurl.com/OriginalOwner
at 2016-06-11 04:04:58
from the more-media-consolidation dept.
Recode (Vox Media) reports [recode.net]
Gawker and owner Nick Denton are making the Chapter 11 filing today, in order to avoid paying Thiel and Hulk Hogan the $140 million judgment they won in Hogan's privacy trial earlier this year.
Update: In a memo to employees, Ziff Davis CEO Vivek Shah says his company has an "asset purchase agreement" to buy seven Gawker titles [recode.net], and says there is a "tremendous fit between the two organizations".
Previous: Hulk Hogan's Sex Tape and a Tech Billionaire's Revenge on Gawker [soylentnews.org]
Gawker Becomes First Online Media Outlet to Unionize [soylentnews.org]
lawsuit, n.:
A machine which you go into as a pig and come out as a sausage.
-- Ambrose Bierce
