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Jonboy · Jun 10, 2016

Peter Thiel is getting closer to his goal: Gawker Media has filed for bankruptcy protection and says it eventually plans to find a new owner for the company.

Gawker and owner Nick Denton are making the Chapter 11 filing today, in order to avoid paying Thiel and Hulk Hogan the $140 million judgement they won in Hogan’s privacy trial earlier this year.

Gawker has told it employees it still plans to fight the Thiel/Hogan case and to operate its publishing business while it does so. But it is also now formally entertaining offers to buy the company and says it has a firm bid from publisher Ziff Davis to buy the entire operation for less than $100 million.

More here: http://www.recode.net/2016/6/10/11903764/gawker-bankruptcy-chapter-11-sale-ziff-davis

Though it's filing for bankruptcy, Gawker has no plans to cease its operations. The company will continue to operate as normal while the bankruptcy process proceeds and it appeals the Hogan judgment.

More here: http://www.politico.com/media/story...ankruptcy-to-protect-assets-from-hogan-004593

Breaking: Gawker Media files for bankruptcy...

https://twitter.com/verge/status/741313624199860224

planetsmasherx1 said:
OP, new information including internal ZD memo here: http://www.recode.net/2016/6/10/119...as-to-say-about-its-plans-to-buy-gawker-media

.

LongDongJunon · Jun 10, 2016

See you tomorrow deadspin

Mesoian · Jun 10, 2016

Yeah, that was pretty much the only way that this could go considering they lost that appeal.

What's crazier is that Ziff Davis might buy it back.

You can never escape Ziff Davis. All things begin and end at Ziff.

Azuran · Jun 10, 2016

Hulk Hogan burying websites now.

Is there no end to his madness?

DeathSparks · Jun 10, 2016

Good riddance

kenta · Jun 10, 2016

Klepek just bought a house and of course this happens

Visualante2 · Jun 10, 2016

Wonder who picks up Kotaku. Sorry Patrick.

edit. Ziff Davis? Oh that is going to go so well...

alr1ght · Jun 10, 2016

Hogan with the big boot and legdrop.

Shao Kahn Brewing a Stew · Jun 10, 2016

Kotaku, please tell me you're okay!

Go independent, Kotaku! Arrange funds if needed.

JehutyRunner · Jun 10, 2016

Azuran said:
Hulk Hogan burying websites now.

Is there no end to his madness?

Hulkamania is indeed truly running wild, brother.

Se_7_eN · Jun 10, 2016

Azuran said:
Hulk Hogan burying websites now. Is there no end to his madness?

As long as he buries Kotaku, I am fine with it... I really dislike that site.

Mihael Mello Keehl · Jun 10, 2016

IGN and Kotaku merger...

Rafy · Jun 10, 2016

R.I.P. Kotaku...

Kowashitai · Jun 10, 2016

WHATCHA GONNA DO BROTHER?

Nyoro SF · Jun 10, 2016

Year 2016 - Hulk Hogan kills Kotaku. Headlines that are not made up.

L Thammy · Jun 10, 2016

Sucks for the people involve at Gawker who weren't involved in this, hope they land on their feet. This whole incident was really stupid and avoidable.

josecitoxnyo · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

Why exactly? Cause they actually do journalism?

Dr_Boris_Goltz · Jun 10, 2016

Man I bet they're really kicking themselves for publishing that article.

kiguel182 · Jun 10, 2016

This is really sucks for kotaku. Hopefully someone buys it.

InsaneTiger · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

Because they do real news and journalism and aren't schills for game companies?

Twookie · Jun 10, 2016

Gawker

Mihael Mello Keehl said:
IGN and Kotaku merger...

oh god

Trogdor1123 · Jun 10, 2016

What you gonna do when the hulkster comes for you? Well, you file for bankruptcy

Liamc723 · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

And what's so bad about them?

Hagi · Jun 10, 2016

Inevitable after losing the appeal.

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

You dislike it so much you want people to lose their jobs? that's kinda sad. What happened to just ignoring things you don't like on the internet.

Wagram · Jun 10, 2016

Gawker screwed Gawker.

qatak · Jun 10, 2016

Hopefully filing for Chapter 11 means that most can keep their jobs there. I know they're polarizing but they've put out so much of my favorite writing (Schreier, Narcisse, and Hamilton at Kotaku especially but I really do love Jalopnik and Jezebel too) over the last few years.

I'll never understand where that $140m figure came from. Blows my mind when Erin Andrews only ended up with $6m.

RealityCheque · Jun 10, 2016

Sorry to see Kotaku in trouble.

Less sorry to see the rest of Deadspin's tactics and crappy reporting go onto the chopping block.

InsaneTiger · Jun 10, 2016

Twookie said:
Gawker

They're gonna be fine.

JehutyRunner · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

And see people lose their jobs in the process? You're such a kind person.

All the best to those at Kotaku at this time.

Poetic.Injustice · Jun 10, 2016

Next time, take down videos when you're asked to by a court order.

L Thammy · Jun 10, 2016

Kowashitai said:
WHATCHA GONNA DO BROTHER?

requesting edit of this

The Flash · Jun 10, 2016

No one could withstand Hulkmania of that magnitude forever

MaybeBurger · Jun 10, 2016

DeathSparks said:
Good riddance

this

NullPointer · Jun 10, 2016

Now would be a good time to put out a sex video.

Just saying.

Palette Swap · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

"I dislike a gaming site so much I wish people working there would lose their jobs" is not a great look.

RichyDevil · Jun 10, 2016

If you decide to work for an organization that does what Gawker does you have to be prepared for the consequences. Hard to be sympathetic.

ViciousDS · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

best sneak press fuck website out there bro.

There articles on Destiny were amazing

qatak · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

They're one of the only games writing sites that isn't just a mouthpiece for publisher marketing! Never a good look to wish bad upon someone's job, but there are so many great people working at Kotaku.

Ultima_5 · Jun 10, 2016

Hagi said:
Inevitable after losing the appeal.

You dislike it so much you want people to lose their jobs? that's kinda sad. What happened to just ignoring things you don't like on the internet.

Cuz it's easier to be edgy

GlamFM · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

Don´t be a dick.

D4Danger · Jun 10, 2016

Graffgor said:
Man I bet they're really kicking themselves for publishing that article.

The follow up was even better.

"A Judge Told Us to Take Down Our Hulk Hogan Sex Tape Post. We Won't."

ryseing · Jun 10, 2016

Se_7_eN said:
As long as he buries Kotaku, I am fine with it... I really dislike that site.

The NMS subreddit is that way ->.

Jason and Patrick do great work. Hopefully the site comes through OK.

Triggerhappytel · Jun 10, 2016

shagg_187 said:
Kotaku, please tell me you're okay!

Go independent, Kotaku! Arrange funds if needed.

I imagine they'd do really well out of Patreon. Maybe hire a video content producer or two as well and get some coverage/reviews on YouTube.

TheChaos · Jun 10, 2016

Please don't die, Lifehacker! =(

Jonboy · Jun 10, 2016

L Thammy said:
Sucks for the people involve at Gawker who weren't involved in this, hope they land on their feet. This whole incident was really stupid and avoidable.

RealityCheque said:
Sorry to see Kotaku in trouble.

Less sorry to see the rest of Deadspin's tactics and crappy reporting go onto the chopping block.

Pretty much this.

Denton deserves this, as do others under the Gawker umbrella, but for the most part, there are a lot of innocent people who will be impacted by this. Easy to say they should get out or leave, but when you have a family and bills to pay, that's much easier said than done. Thinks I love and hate about Kotaku, but I hope they land on their feed. Really think a lot of Jason Schreirer and the work he's doing there.

@Wreck · Jun 10, 2016

oh this is a super bummer for the poor staff at Kotaku

i'll miss the site as well it was one of my stops daily

aslo pouring it out for

lifehacker
skellet
etc...

Mihael Mello Keehl · Jun 10, 2016

Shouldn't Kotaku make an article about this? Since they always making an article about everything else?

DarkLordMalik · Jun 10, 2016

Hopefully Jason and Patrick can find a suitable alternative if worst comes to it.

SirPenguin · Jun 10, 2016

2016 is a hell of a yeat

DeepEnigma · Jun 10, 2016

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Gawker (Kotaku parent) Files for Bankruptcy Protection, Ziff Davis (IGN) wants to buy

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