Gawker files for bankruptcy after Hulk Hogan lawsuit

June 10, 2016 6:41 PM

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Gawker Media, which was recently ordered to pay up to $140 million to Hulk Hogan, filed for Chapter 11 bankruptcy protection on Friday and put its assets up for sale, conceding its difficult future following a contentious invasion-of-privacy lawsuit brought by the former wrestler.

Ziff Davis, the digital publisher of AskMen, PCMag and Computer Shopper, has placed a bid for Gawker's assets -- with $100 million as the opening price -- prior to an auction that will be supervised by the bankruptcy court, according to a person familiar with the matter. The person wasn't authorized...

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