The New York company says in the filing that it has as much as $500 million in debt and up to $100 million in assets
People walk past a building that lists offices for Gawker Media in New York City, U.S., June 10, 2016. REUTERS/Brendan McDermid, photo: Reuters/Brendan McDermid
10 of June 2016 12:54:42
NEW YORK — Gawker Media has filed for Chapter 11 bankruptcy protection, about three months after pro wrestler Hulk Hogan won a $140 million lawsuit against the online gossip and news publisher.The New York company says in the filing that it has as much as $500 million in debt and up to $100 million in assets.Hogan sued Gawker after it posted a video of him having sex with a friend's wife. Hogan was awarded $115 million in compensatory damages plus an added $25.1 million in punitive damages.It was later revealed that billionaire tech investor Peter Thiel had been secretly funding Hogan's lawsuit.