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Gawker Media files for bankruptcy, to go up for sale

June 11, 2016 by · Leave a Comment 

By Jessica DiNapoli and Jared Leone NEW YORK/ST. PETERSBURG, Fla. (Reuters) – Gawker Media LLC, an online publishing pioneer, filed for Chapter 11 bankruptcy and put itself up for sale on Friday after a $140 million court judgment against it in a lawsuit brought by former professional wrestler Hulk Hogan over a sex tape. The move followed revelations that Hogan's lawsuit, along with several others against Gawker, were being bankrolled by billionaire investor Peter Thiel, an early backer of Facebook and a co-founder…

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Gawker Media files for bankruptcy, to go up for sale