Gawker files for bankruptcy, will sell itself after $140 million Hulk Hogan lawsuit judgement

Gawker Media was crushed by the $140 million legal judgment in Hulk Hogan's invasion-of-privacy lawsuit, which we now know was financed by a bitter and resentful Peter Thiel. Nick Denton's gossip news site Gawker.com published a sex tape featuring former wrestler Hulk Hogan, and the former wrestler (real name: Terry Bollea) sued with Thiel's help.

The publishing company is now putting itself up for sale, reports the New York Times, citing an anonymous source. Gawker Media Inc. filed for Chapter 11 bankruptcy on Friday "after a judge overseeing the suit against the company entered the full judgment and denied Gawker's request for a stay under terms the company could meet."

(more")