Gawker Media has filed for Chapter 11 bankruptcy protection following months of legal troubles. News surfaced last month that the site's founder, Nick Denton, was privately soliciting bids for the online empire. A Florida jury had required the company to pay $140 million in damages to ex-pro wrestler Hulk Hogan, who had won a privacy lawsuit against the site for its publishing of a leaked sex tape involving him and a friend's ex-wife. Politico reports that owner of PC Mag, Ziff Davis, agreed to an opening bid of at least $90 million.
Shortly after the news broke, Hogan rejoiced with a tweet: "What a beautiful day,and the good doesn't prevent the better! In the present I AM always grateful, only good happens to me."
http://ift.tt/1Xewtlp Gawker Has Filed for Bankruptcy via top scoring links : news http://ift.tt/22Yx9eF
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