Gawker files for bankruptcy

USA Today is reporting that Gawker Media filed for Chapter 11 bankruptcy protection on Friday and has put all assets up for sale. This comes weeks after the media outlet was ordered to pay around $140 million to WWE Hall of Famer Hulk Hogan after Hogan filed a lawsuit against the company for the distribution of his sex tape online.

Gawker Media properties Gizmodo, Lifehacker and Deadspin are expected to continue operations during the ongoing bankruptcy proceedings. Ziff David, the digital publisher for AskMen, PCMag and Computer Shopper, has placed a bid for Gawker’s assets (estimated to be around $100 million for the opening price) prior to a scheduled auction.

Hogan issued a tweet in response to the news today.

18 COMMENTS

  1. hulkamania ran wild over gawker, shame he’s not in the election, run wild over the 2 idiots

  2. does that mean whatever the assests sell for hogan gets since gawker media filed for bankruptcy?

  3. Not sure how it works. Do they need to pay Hogan, or after filing for bankruptcy, are they clear and he gets paid, among others owed debts, out of the assents auction?

  4. American way it pays to be racist lol.. The longer this drags on the longer people will remember his remarks. He may not even are about the wrestling rep after this payout.

  5. I’m sorry, could you repost that in English please? And try to keep it focused instead of making non-sequitor remarks about his use of a racial slur, which frankly doesn’t rank among the thirty most despicable things he’s ever done and was mostly taken out of context in a rant about his family abandoning him?

  6. Gawker’s arrogance was amazing. Its founder still believes that it is morally acceptable to post private videos of private acts done in private settings to the public domain as a matter of public interest. It’s not as if Hogan was court screwing someone on a highway, he was in a bedroom not knowing he was being filmed, and most of the public would not want to see this anyway. Celebrities have a right to privacy just like anyone else does. Gawker basically acted no differently from the pathetic social justice warriors you see on Tumblr posting people’s names and contact details and demanding they lose their jobs for offending their sensibilities.

  7. It goes beyond the racial slur. the mind set and stigma that he placed that the person had to be a athlete or performer to be a successful black man was even more disgusting.

    I don’t give a shit about where what ranks in his acts this was offensive and he got caught on it now the focus is more on his payout battle than the man himself is disturbing.

    How and the . do you call a man a N$GGER multiple times out of god damn context?!? Gtfoh

  8. Whatever they sell the assets for, Hogan will get. So he won’t get the full $140mil, but he should see a good chunk of that.

  9. Generally in this case if the assets are sold the monies are then dispersed to creditors starting with secured debt and trailing downwards. I imagine Hogan would be just below employees redundancies.

  10. dude Hogan has a ton of black friends who came out to defend him. Hogan used a “word” for 1 guy. he didnt say all blacks are this or that he just didnt like the guy who was dating his daughter. at this time Hogan was going through a lot in his life from his Son doing crazy stuff to his wife divorcing him trying to take everything away and all sorts of other stuff it was a bad time for him.

    The N word has gotten way to far out of hand it no longer has its “sting” to it as Blacks Say the N word like a billion times a day. Youre hard pressed to find a Rap song that doesnt say it atleast 20 times during the song

  11. First off they didn’t out right defend him they say it wasn’t suspected by him. In that case how many people are known as outright racists?

    His family problems are beyond the point. It’s also not only the fact he used the word but went further explained what he deemed a successful black man could be a ball player or entertainer.

    And this is the problem with society people trying to tell groups how they should feel or react. Please spare me the “well black do it” bullshit just to inform you and other white or any race there is a huge difference in Calling some a Ni$$a in slang often between friends with the A and ER with its hateful past and present use like Hogan.

    To give these blind people who still use this excuse a nigga may have a gold chain around his neck niggers are known for the rope so please don’t be foolish in comparing. When you hear the ER version be spewed constantly even by blacks to each other then come back and argue.

  12. wrong again…..

    Virgil, Mr T, Koko B ware, George foreman heres a direct quote from George ” Boxing legend George Foreman isn’t jumping on the bandwagon against his “friend” Hulk Hogan — and swears he’s not a racist.” and a slew of Hogans black friends have come out to defend him saying he wasnt a Racist and never once saw that about him. PLEASE do some research into this before you spout your mouth off.

    No matter who uses the word it should either be ment as the most horrible thing ever said even between blacks and should be taken as an insult OR it should just be what it is a word and not be offensive at all. You cant have it both ways, you cannot have it as a secret club word that only such and such people are allowed to say between each other.

    Hogan apologized for saying it and i understand why he was upset there was a lot more it than what you think

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