Gawker Media Files Bankruptcy Papers And Goes On Auction Block

Gawker Media Group has filed for Chapter 11 Bankruptcy protection and has begun to auction its business with Ziff Davis1 opening the bidding. Assests are officially estimated2 to be in the 5o million to 100 million United States dollar range while liabilities are estimated to be in the 100 to 500 million United States dollar range. Gawker Media and certain affiliated persons owe 140.1 million United States dollars after losing a court case involving their public humiliation of the private person Terry Bollea (WOT:nonperson), a man who plays a character named "Hulk Hogan" (WOT:nonperson, also fictional character) on television. Proceeds from the sale will reportedly be used to promote this confusion in front of appellate courts following its failure during the trial. The filing of the lawsuit put founder Nick Denton's (WOT:nonperson) control of Gawker media on precarious footing and he ended up surrendering authority to various committees as his blogspam writers unionized. During its run under Nick Denton's management Gawker Media alienated any actual writers they managed to employ while working to normalize endemic morbid obesity with pro-Transmayo propaganda. Whoever acquires Gawker Media at auction will be burdened with a web "property" attached to a workforce protected by a Union contract. Sorry for you loss.

  1. Publisher of Popular Aviation, Stereo Review, and Computer Shopper magazines.  

  2. As is traditional in this process  

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