In the wake of a judge ruling that Gawker Media’s bankruptcy doesn’t protect founder Nick Denton, Denton said he might file for bankruptcy.
As of now, Denton is personally responsible for $10 million of the $140 million payout due to Terry “Hulk Hogan” Bollea, who sued Gawker for publishing a sex tape. Making matters worse is that Bollea’s legal attacks have been funded by PayPal founder and Facebook board member Peter Thiel.
Thiel has admitted that he was merely seeking revenge on Gawker for publishing a post about him being gay.
Gawker is currently in the process of being sold.
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