- The Washington Times - Friday, June 10, 2016

Hulk Hogan, aka Terry Bollea, has officially crushed Gawker Media — the company filed for bankruptcy on Friday as a result of his successful invasion-of-privacy lawsuit.

A Florida jury awarded Mr. Bollea $140 million in March for Gawker’s decision to publish a private sex tape of the wrestler in 2012. Owner Nick Denton’s Chapter 11 filing puts the company on the auction block with a starting bid by publisher Ziff Davis of $100 million, the Wall Street Journal reported Friday.

“We look forward to the possibility of adding these great brands — and the talented people who support them — to the Ziff Davis family,” wrote Ziff Davis CEO Vivek Shah in a memo distributed to his company, Variety reported Friday.

Gawker’s decision to file for bankruptcy was expected after its failed attempts at appealing March’s verdict.

Mr. Bollea’s legal fees were funded by billionaire Peter Thiel, who amassed his wealth through early investments in Facebook and running PayPal. Like Hulk Hogan, Mr. Thiel was the target of multiple Gawker stories.

“It’s less about revenge and more about specific deterrence. 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,” Mr. Thiel told The New York Times on May 25. “I can defend myself. Most of the people they attack are not people in my category. They usually attack less prominent, far less wealthy people that simply can’t defend themselves.”



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