Gawker Media Files For Bankruptcy Protection

Discussion in 'HardForum Tech News' started by HardOCP News, Jun 10, 2016.

  1. HardOCP News

    HardOCP News [H] News

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    Gawker Media is filing for bankruptcy and has put itself up for sale. You know Gawker has to be regretting testifying in court that they wouldn't publish a sex tape of a four year old or taking that whole "sex tapes are protected speech" approach.

    Under pressure from a $140 million legal judgment in favor of Hulk Hogan, Gawker Media filed for bankruptcy protection on Friday, and is reportedly considering putting itself up for auction. The edgy media company, led by Nick Denton and known for blogs like Jezebel and Deadspin, had assets of $50 million to $100 million and liabilities of $100 million to $500 million, according to bankruptcy court filings in New York.

     
  2. Quix

    Quix 2[H]4U

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    Couldn't have happened to a nicer company, could it?
     
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  3. jcollett69

    jcollett69 Limp Gawd

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    So, what stops Nick from spinning up another media company just like this? What kind of "assets" does the company really have? Seems they could re-appear in a month or two under a new LLC or corporation.
     
  4. MoFoQ

    MoFoQ Gawd

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    he's still personally liable in the Hogan vs Gawker case so he doesn't have $ on his own to do a start-up (at least anything that is not tainted w/ shady mcshady; though he did do that shell company that was renamed to something w/o "gawker" in the name that he owns a minority in with his sister, probably an attempt to shield assets)

    plus most investors may not want to go near such a liability-ridden train wreck.
     
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  5. Zion Halcyon

    Zion Halcyon 2[H]4U

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    What's sick is how many media types are all crying over Gawker filing bankruptcy - that company was such bullshit.

    That said, I like the idea of the guy from PC Magazine owning the network, if only to cannibalize it for its tech sites - well, that and kotaku isn't half bad, when they aren't on one of their social justice rants...

    But yeah, glad to see that asshat Denton go down in flames and see his empire potentially parted out and gutted.
     
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  6. ir0nw0lf

    ir0nw0lf [H]ardness Supreme

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    Amazing how one news story like this can brighten your day/week/month/year... :p
     
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  7. MoFoQ

    MoFoQ Gawd

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    naw, kotaku is also cancer (big part of it is the "writers" who don't like to game, writing for a "gaming" site)
     
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  8. cthulhuiscool

    cthulhuiscool 2[H]4U

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  9. Paul_Johnson

    Paul_Johnson [H] PSU Editor & Admin Staff Member

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    Does this mean no more "articles" from tarvish? Please be true.
     
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  10. Zion Halcyon

    Zion Halcyon 2[H]4U

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    I don't know. I find sometimes that outsider perspective offbeat, odd, and interesting to read. Diverse spread of coverage as well.

    I just get tired of them somehow tying every criticism of them to old white men trying to keep them down, and how every critic is a racist, sexist, or a homophobe.

    Then again, that's an issue with everyone in the Gawker tree.

    When they aren't pulling that shit, they're ok. A nice diversion. But certainly not anything I'd miss for any length of time.
     
  11. HeadRusch

    HeadRusch [H]ard|Gawd

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    I feel bad for the snarky, juvenile Jezebel writers....oh wait, no I don't. Fuck them.
     
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  12. Zion Halcyon

    Zion Halcyon 2[H]4U

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    That's the thing - I hope all the SJW end up purged from the sites by whoever buys them. Or shit, maybe MotherJones can just buy them out so they can all go hang out in the same dark corner of the internet.
     
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  13. snowcrash

    snowcrash Gawd

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    For once, justice was completely served and the "good" guys won. Peter Thiel got a flawless victory. Events like this happens rarely.
     
  14. N4CR

    N4CR 2[H]4U

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    Sounds exactly right. Vast overwhelming number of writers there who can't drive, zero automotive understanding. Pathetic clickbait. SJW echo chambers were the growing norm and they destroyed commenting sitewide, by making commenting pre approved, so any critics or counter points were invisible. All because of some trolls or provocateurs posting borderline gifs from time to time. Nope. Words hurt too much also apparently but they never discussed that.
    Fuck that place, glad to have not gone back for some time.
     
  15. Jehuty

    Jehuty Limp Gawd

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    The only thing I don't like is losing a few people at Kotaku, mainly Ashcraft and Fahey. Everyone else is crap, and the site took a nosedive after Crecente left. There's also a few good sites like io9 and I think Deadspin. Other than that everyone else can go down in flames and gawker in general can go fuck themselves. I'm pleased with the ruling.
     
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  16. viscountalpha

    viscountalpha 2[H]4U

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    You have to admit, gawker did it to themselves. First pissing off a billionaire and then hosting stolen media. What do you think was going to happen if you piss off someone rich and powerful?