Gawker files for bankruptcy after losing $140m case
10 June 2016
- From the section Business
Online news site Gawker has filed for bankruptcy after losing a $140m (£97m) privacy case earlier this year.
The company filed for bankruptcy protection, which could allow it to avoid paying the ruling.
In March, Gawker was ordered to pay wrestler Hulk Hogan for invading his privacy by publishing a sex tape.
Gawker told staff it still planned to appeal the ruling and would continue to operate in the meantime, but it was now accepting offers to buy the site.
Publisher Ziff Davis, owner of PC magazine and Geek.com, has already made an offer to buy all of Gawker’s assets for less than $100m.
This post was written by FSB News