Gawker Media filed for Chapter 11 bankruptcy ahead of a planned auction sale Friday after losing an appeal on judgement of $140 million received as a result o lawsuit with Hulk Hogan
Gawker Media filed for bankruptcy Friday and the company will be put up for auction after a judge ruled that a $140 million jury judgment against it in a costly legal battle with former professional wrestler Hulk Hogan would stand. Gawker Media filed for Chapter 11 bankruptcy ahead of a planned auction sale Friday after a $140 million judgment in the Hulk Hogan lawsuit.
The former professional wrestler won the suit over a sex tape against the media company in March, and a judge has upheld the decision over the company’s appeal.
The auction will open at $100 million