![]() ![]() To read the the Los Angeles Business Journal piece, see J2 Global Submits $100M Bid for Gawker Media. What Gawker Media Acquisition Means for Univisionįor Politico, see Gawker’s bankruptcy a powerful defense against Peter Thiel. Will New Gawker Owner Be Responsible for Hulk Hogan’s $140 Million Award? ![]() “I would expect, that when all is said and done, ultimately there would be a settlement with a substantial reduction in the amount of the claim,” Jerry told The Wrap.įor The Wrap stories, see What’s Next for Gawker – And Will Hulk Hogan Get His Money? According to Jerry, Gawker’s latest move might mean that Hulk Hogan will not receive the full $140 million judgment from his invasion of privacy lawsuit, which surrounded the company’s 2012 publication of a sex tape depicting the former wrestler. Jerry was quoted by The Wrap, Politico, Los Angeles Business Journal and Financial Times. Jerry Bregman was recently asked by several publications to discuss Gawker’s filing for Chapter 11 bankruptcy protection, and what’s next for the embattled media company. Publishing company Ziff Davis has bid to buy Gawker Media for $90 million, but another buyer may win the auction later this month.Arrow Back to Newsroom Jerrold Bregman Quoted Extensively on Gawker Bankruptcy and Hulk Hogan Judgment Only after Hogan won the jury verdict in March did Thiel's role come to light. Gawker has argued that its footage was newsworthy and protected by the First Amendment. The case stems from Gawker posting a video of Hogan having sex with a friend's wife. If even one person has been spared the humiliation that Mr. Bollea's legal bills, and everything to do with Denton's own choices and accountability. Hogan's attorney David Houston said in a statement that Denton's bankruptcy "has nothing to do with who paid Mr. In a memo to Gawker Media staff, Denton wrote that it's "disturbing to live in a world in which a billionaire can bully journalists because he didn't like the coverage." Thiel, who co-founded PayPal and was an early investor in Facebook, was outed as gay by a Gawker-owned website. That raised concerns about the wealthy using their power to bring down media outlets. Silicon Valley billionaire Peter Thiel bankrolled the lawsuit filed by Hogan, whose real name is Terry Bollea, against Gawker. ![]() ![]() Overall, Denton's filing says he has $100 million to $500 million in liabilities and that his assets are worth $10 million to $50 million.ĭenton tweeted on Monday that it was a "bitter day" for him but that New York-based Gawker Media, home to blogs including women's site Jezebel and the tech-themed Gizmodo as well as the snarky Gawker, would "thrive" under new owners. Filing for bankruptcy protection helps shield him from Hogan after Denton's other legal efforts to block Hogan from collecting failed. Peter Thiel, the billionaire who financially backed Hulk Hogan’s lawsuit against Gawker Media, ultimately leading to the media company’s bankruptcy in August. NEW YORK (AP) - Gawker founder Nick Denton filed for personal bankruptcy Monday in the aftermath of a Florida jury's awarding $140 million to Hulk Hogan in a privacy case revolving around a sex tape posted on .Īs a result of the verdict, which is being appealed, Gawker's parent company has gone into bankruptcy and is up for sale.ĭenton's bankruptcy filing Monday says he owes $125 million to Hogan, a former professional wrestler. ![]()
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