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Under pressure from a $140 million legal judgment in favor of Hulk Hogan, Gawker Media filed for bankruptcy protection on Friday, and is putting itself up for auction.
Global media company Ziff Davis has agreed to buy Gawker's seven media brands and other assets, though Gawker's sale will be conducted through a bankruptcy- court-supervised auction that may include other bidders, the company told CNBC.
The edgy media company, led by Nick Denton and known for blogs like Jezebel and Deadspin, had assets of $50 million to $100 million and liabilities of $100 million to $500 million, according to bankruptcy court filings in New York.
Read more http://www.nbcnews.com/business/bus...kruptcy-after-hulk-hogan-legal-battle-n589846
Global media company Ziff Davis has agreed to buy Gawker's seven media brands and other assets, though Gawker's sale will be conducted through a bankruptcy- court-supervised auction that may include other bidders, the company told CNBC.
The edgy media company, led by Nick Denton and known for blogs like Jezebel and Deadspin, had assets of $50 million to $100 million and liabilities of $100 million to $500 million, according to bankruptcy court filings in New York.
Read more http://www.nbcnews.com/business/bus...kruptcy-after-hulk-hogan-legal-battle-n589846
