Hulkmania Runs Wild! Gawker Media (Kotaku) Files Chapter 11 Bankruptcy

Gawker Media, under pressure from a $140 million legal judgment and facing a determined foe in the Silicon Valley billionaire Peter Thiel, has filed for Chapter 11 bankruptcy and is putting itself up for sale.

The company is beginning an auction, and Ziff Davis, a digital media company, has submitted an opening bid of $90 million to $100 million, according to a person briefed on Gawker’s plans, who spoke on condition of anonymity to discuss the auction.

Gawker’s decision to sell itself came just weeks after Mr. Thiel acknowledged in an interview with The New York Times that he was financially supporting Mr. Bollea’s lawsuit, as well as other lawsuits against the organization. Mr. Thiel, a founder of Paypal and one of the earliest investors in Facebook, was outed as being gay by one of Gawker’s blogs, the now-defunct Valleywag, nearly a decade ago. He said that article’s headline, “Peter Thiel is totally gay, people,” and articles written about his friends and others “ruined people’s lives for no reason” and prompted his decision to finance cases against Gawker.

“It’s less about revenge and more about specific deterrence,” Mr. Thiel said of his supporting Gawker’s legal opponents. “I saw Gawker pioneer a unique and incredibly damaging way of getting attention by bullying people even when there was no connection with the public interest.”

Big win for the Hulkster taking down corrupt media. Will be interesting to see what happens with Kotaku in the next few weeks and months.

Source:

http://www.nytimes.com/2016/06/11/business/media/gawker-bankruptcy-sale.html?_r=0

Great news.

Thanks Hollywood.

Hogan just buried Gawker.

The 24 inch pythons have that effect.

This is good news, less crappy clickbait articles.

Thanks, Brother!

Kotaku will still exist depending on their buyer's direction.

Edit: Also, I see that you took my headline, but shuffled the title to make it as your own, you copier

TBH, they may blame Peter Thiel for helping Hogan to get rid of them, but it's there own fault for trying to slander Thiel with articles claiming that he was secretly gay. I guess Thiel waited for the right time to finally get his revenge.

And nothing of value will be lost.

Fantastic news.

Amazing news, well done brother.

shame, Kotaku had some good stuff every once in a while, every site is hit and miss as far as I see it

I hope they clean house at Kotaku.

They've been just as awful as Polygon so honestly not sad in the least.

@sailor232:

Yeah but doesnt some of that money goes to his ex wife and kids?

Kotaku is a terrible site and Hilk Hogan is a terrible person. It's a shame there had to be a "winner" here.

Actually, the winner is Peter Thiel, as he waited for the right opportunity to destroy Gawker. He used Hulkamania's lawsuit to finally plot his revenge against Gawker for running the story in 2007 stating that he was gay and slandering his name.

@GoldenElementXL:

LoL all you know of Hogan is the click bait posted by places like gawker but we know what gawkers like.

Hulk Hogan saved the internet.

#ThankyouBasedHogan

@WilliamRLBaker: Tons of wrestlers came out and talked about his use of the "N" word. Come on now.

Came here to say this.

And post this, because we need more rageaholics:

Good news!

What does this has anything to do with System Wars?

Good maybe that social justice website can **** off and die now.

Thanks for cheating with your best friends wife Hulk.....the Internet was saved by your shitty values.

So...everyone wins??

There is no shame about it, Hogan's case is an invasion of privacy which if he did lose, would have set a precedent for the average American to boot. Hogan should have won this, and it never should have been close. Gawker was completely out of line.

He's a piece of shit, and that goes before everyone discovered he was a racist or whatever.

@sailor232: " So...everyone wins??"

How does Hogan wins if he he has to give alot of his earnings to his ex wife?

Blastoff meatball!

Gets his ex-wife off his back until the next pay check. Plus it's still money he didn't have in the first place.

Based

I still don't think he is racist though. Hogan spent a lot of his time with rappers like birdman and lil wayne so it's not surprising that one person would say the N word. One of my Greek friend who is heavily he is a hip hop beat maker told me how hard it is to not say it when all your friends say it all the time. He dropped it once around me by mistake and I told him that I don't care. In the real sense of the word, even us black folks shouldn't say it, but the word lost it's meaning, people just like to over blown things.

@sailor232:

"Gets his ex-wife off his back until the next pay check."

It's a automatic thing though.

"Plus it's still money he didn't have in the first place."

Exactly. So its weird/odd she may get a share of new money he earns.

Revenge is a dish best served cold.

He didn't say the word with an "a" at the end, he said it with "er" fam, there is a massive difference between how those words are used. Hogan's been a habitual liar his entire life, half his family are like grade A scumbags who were already planning a reality show for their son Nick after he would be out of prison because of the **** up he had with that car accident a few years ago, never mind how generally shady the wrestling business is in general, of which Hogan is a pretty prime player.

If he's not full on racist, he's a diet racist. He even says the words "i'm a little racist"

I grew up a Hulkamaniac, but come on people, the man's character defects aren't exactly subtle or hidden these days.

@jg4xchamp: Older folks usually say N er, though you won't hear that on tv or on the internet. I actually was never a fan of Hulkmania, he couldn't wrestle for crap and always wanted himself to be above everyone else. Now I do agree that Hogan is a shady person so yeah maybe he is a diet racist, I guess we'll never really know.

@da_illest101: "I actually was never a fan of Hulkmania,"

You didn't grow up in the 80's. =(

@Solaryellow: I thought it was 19 inch python.

People say the -er version all the time now. I hear it every Saturday when I'm playing football.

Unfortunately I wouldn't celebrate just yet:

https://www.destructoid.com/ign-s-parent-company-buys-kotaku-publisher-367341.phtml

Instead of letting the Gawker ship sink and Kotaku along with it, IGN went ahead and bought them out, so it's technically possible the shittiness that both publications provide will be compounded.

Personally I have no idea why Ziff Davis would bother acquiring them when they're being dragged through some justifiably terrible publicity. Then again, IGN is run by a bunch of fucktards anyway.

Damn! That's a shame, the death of Kotaku could only have made the internet better.

"The news is out that Gawker Media, our parent company, is up for sale as part of a filing for Chapter 11 bankruptcy protection. This was due to an unprecedented legal assault financed in secret by Silicon Valley billionaire Peter Thiel. What does that mean for Kotaku? Thankfully, not much. We aren’t going anywhere."

About that... yeahhhh.

Yup Hulk Hogan makes Shawn Michaels look like a saint going by all those shoot interviews from other wrestlers and his reality tv career.

Gawker sucks and I am glad they lost.

Gawker isn't going to die and even if it did the people who work there would have just left and wrote the same stuff for other sites that produce similar content. They are like drug dealers. You can move them around, but as long as there are buyers they are going to sell. About the only real aftermath of this is 'news' sites that post revenge porn might take it down if a judge tells them to in the future.

If, you know, they have also seriously ticked off some rich people by openly speculating about their sex life and calling upon others to do the same.

@PSP107: Nah I was born in 87, but even my dad didn't find him to be a good wrestler either. I still have the first wrestlemania game for the nes with Hogan on the cover and I know I asked my dad for it, I hope I didn't get it because I was a hogan fan when I was a kid but don't I remember much of it lol.

Of course it's not dead, but it's being absorbed by Ziff Davis.

Yeah!!!!!!!!!! Great news.... One down 100 to go, now get rid of Buzzfeed, huffpost, salon, and all the other crap-blog-bs lying bs ideology pushing click-bait out there.

People aren't allowed to make mistakes or say things in the privacy of their homes? Since 2012 this blame and shame crap is seriously getting annoying. Words are just words. He didn't need to get fired for it, it wasn't said on live tv. He even had a number of black friends sticking up for him.

Now if he said what he said on a live show or something or killed someone, burglarized a house, or started a riot, yeah then I could see the problem.

This pc sjw-neogaf "I need a safe space/trigger warning" bullcrap needs to stop. You say "diet racism" but what about the army of Sjw people hating on all white straight men out there, everyday in the mainstream media, universities and in indoctrination centers called "gender studies" classes, openly at that, and on live tv? Anti-free speech "progressive stack, whiteness-studies and so forth" insanity needs to end.

That isn't even getting into the whole thing on Gawker being illegal scumbags.

Gawker and Kotaku are quite popular actually. Just because a vocal group hates them doesn't mean they are universally disliked.

I agree! Especially Salon's sick support of helping pedo-sexuals (That's what they're calling pedophiles now)