Gawker files for bankruptcy two months after Hulk Hogan verdict

June 10, 2016 5:27 PM

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Gawker filed for bankruptcy Friday in New York federal court shortly after a lawyer for the gossip website told a Florida judge that it couldn’t afford to pay a $140 million jury award to wrestling legend Hulk Hogan for posting his sex tape online.

The Chapter 11 bankruptcy filing says that Gawker has between 200 and 1,000 creditors, between $50 million and $100 million in assets and $100 million to $500 million in liabilities.

Also read: Gawker’s Nick Denton Lists His Manhattan Loft for $4.25 Million

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