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Gawker is reportedly worth a few million dollars.Ī group of former Gawker employees this week abandoned their effort to bid, one of the sources said, having failed to raise their goal of $500,000. The value of Thiel’s bid could not be learned. If Holden excludes Thiel’s bid, the Silicon Valley titan and cheerleader for Donald Trump could appeal to the judge. Previously, Denton and Gawker Media said they planned to appeal the verdict in the Hogan case along with the two other lawsuits, each of which were funded by. He will choose a winner as soon as this month, and then request approval for the deal from a US bankruptcy court. Multiple bidders have submitted offers for the site, bankruptcy plan administrator Will Holden said in a phone interview. Hogan won a $140m judgment against the site, and later settled for $31m. A Florida jury granted famous wrestler Hulk Hogan 115 million in compensatory damages to be paid by Gawker, the news site that Hogan has accused of violating his privacy by publishing a. Thiel funded the lawsuit against Gawker after the site published a sex tape featuring Hogan, whose real name is Terry Bollea.

Thiel, an original Facebook investor and a co-founder of PayPal, did not respond to a request for comment.īankruptcy and legal experts for Gawker have tried to block Thiel’s bid, according to court papers. Denton has been the target of a lawsuit brought by the wrestler Hulk Hogan in the now-infamous defamation case over Gawker’s publication of a sex tape an. Thiel has not said why he wants Gawker, though the potential acquisition would let him take down stories about his personal life that are still on the website, and shut down scope for counter litigation against him. Most of its assets, including its sister pages Deadspin and Jezebel were bought in 2016 for $135m by media company Univision Holdings. In the suit, Terry Gene Bollea, known professionally as Hulk Hogan, sued Gawker Media, publisher of the Gawker website, and several Gawker employees and.

Gawker is conducting an auction of its remaining assets, including its domain names and nearly 200,000 archived articles. A new media renegade behaved very much its traditional forebears when it announced plans to scrap a long and costly appeal of Hulk Hogan’s 140 million victory in the dispute over its publishing.