Webpress Daily


Gawker files for bankruptcy and puts itself up for sale

Peter Thiel is getting his wish.
Gawker Media, the publisher behind popular websites like Gizmodo, LifeHacker, Jezebel and Gawker, filed for Chapter 11 bankruptcy protection on Friday. The move essentially guarantees that Gawker will be sold. 
The bankruptcy filing, rumored in recent weeks, comes after wrestler Hulk Hogan won $140 million in a lawsuit against Gawker over publishing a sex tape. 
The lawsuit later turned out to be financially backed by Thiel, a billionaire venture capitalist and Facebook board member, who has clashed with Gawker over its tech coverage in the past. 
Denton declined to comment but posted a tweet noting that they’ll be

Original Article