[frenchcorporation]

https://mobile.twitter.com/CNBCnow/statu...3789575168


http://www.wsj.com/articles/gawker-decla...1465578030

Quote:

Gawker Media filed for bankruptcy Friday and the company will be put up for auction after a judge ruled that a $140 million jury judgment against it in a costly legal battle with former professional wrestler Hulk Hogan would stand.

The sale auction will begin with an opening bid of $100 million from the digital media company and publisher Ziff Davis LLC, according to a person familiar with the matter.

The sale was triggered after the judge overseeing the invasion-of-privacy case brought by Hulk Hogan—whose real name is Terry Bollea—declined to issue a stay pending Gawker’s appeal. That required the company to put up a $50 million bond.

Another one bites the dust.

[stugatz]

And nothing of value was lost.

[Paracelsus]

After all ... Gawker owns Jizzabel.

[Handsome Creepy Eel]

[Cr33pin]

[Vacancier Permanent]

What's Gawker?

Serious question!

[frenchcorporation]

(06-10-2016 12:22 PM)Vacancier Permanent Wrote:  

What's Gawker?

Serious question!

gawker is the company that owns the blog called Jezebel, which was responsible for a lot of the hysteria surrounding roosh's planned meetup, amongst other things

[rpg]

How is a piece of shit company worth $100 million plus? I must be stupid. You cant even fap to their drivel.

[Vacancier Permanent]

Oh I see. Thanks man!
In that case, it's a blessing in disguise!

[Easy_C]

Same way that Theranos was worth billions. Finance isn't as smart as they think they are and will throw money at anything they think is cool.

[kaotic]

Bye bye mother fuckers - karma's a bitch.

Question is - will Hulk even get any money out of them at all ?

[Rutting Elephant]

   

[Kaii]

[LINUX]

[TravelerKai]

I know this is great news, but what if Huff Post buys them? It might end up being a resume of business. Is it even possible they just get out of their debts and another investor bails them out?

[Aether]

Unfortunately there is at least one interested party, Ziff Davis. Looks like it will be business as usual for Gawker's more popular websites (Jezebel, Kotaku etc).

Quote:

Here’s Ziff Davis CEO Vivek Shah’s memo to his company explaining his interest in Gawker, and the next steps of the process:

From: Vivek Shah

Sent: Friday, June 10, 2016 1:07 PM

To: ZD All

Subject: Announcement

I wanted to share some news about a potential acquisition for Ziff Davis. Earlier today, Gawker Media Group (GMG) filed for Chapter 11 bankruptcy. As part of that process, GMG plans to sell its media properties Gizmodo, Lifehacker, Kotaku, Jalopnik, Deadspin, Jezebel and Gawker.

Ziff Davis has entered into an asset purchase agreement to acquire all of these properties (free of GMG's liabilities), subject to the outcome of a Court-supervised auction. Under the Chapter 11 process, the Bankruptcy Court will soon set a schedule for other potential bidders to enter the sale process. There will then be an auction, which will likely take place at the end of July.

In the event we become the acquirer, the additions of Gizmodo, Lifehacker and Kotaku would fortify our position in consumer tech and gaming. With the addition of Jalopnik, Deadspin and Jezebel, we would broaden our position as a lifestyle publisher. Much like us, GMG is heavily active in driving commerce-based revenues and has an impressive publishing and commerce platform with Kinja.

As you can see, there’s a tremendous fit between the two organizations, from brands to audience to monetization. We look forward to the possibility of adding these great brands – and the talented people who support them – to the Ziff Davis family.

Source: http://www.recode.net/2016/6/10/11904892...wker-media

[Gorgiass]

Is the purchasing company liable to pay out any of the settlement in this case? E.g. if they buy Gawker for $100 million, does that go straight to Hulk and that's the end of it or would they still owe him $40 mill? Denton personally liable for anything?

If it does sell the purchasing company is buying a brand with loyal consumers that want the same product the old company was selling, seems unlike anything will change except the address of HQ unfortunately.

[DrCotard]

[GlobalMan]

They aren't going away for sure yet unfortunately. There's a decent chance it will get bought at auction. It will be a bad investment for whoever does buy it, but there's plenty of SJW millionaires who wan't to ride the sinking ship hysterical outrage all the way to the bottom.

[Thersites]

Peter Thiel, the Great American hero:

[WestIndianArchie]

(06-10-2016 02:12 PM)Thersites Wrote:  

Peter Thiel, the Great American hero:

Valley Wag outed him as gay, and he's had a boner for fucking them since.

WIA

[EDantes]

(06-10-2016 01:51 PM)GlobalMan Wrote:  

They aren't going away for sure yet unfortunately. There's a decent chance it will get bought at auction. It will be a bad investment for whoever does buy it, but there's plenty of SJW millionaires who wan't to ride the sinking ship hysterical outrage all the way to the bottom.

Hopefully they'll be bought by Breitbart media.

[GlobalMan]

(06-10-2016 02:16 PM)EDantes Wrote:  

(06-10-2016 01:51 PM)GlobalMan Wrote:  

They aren't going away for sure yet unfortunately. There's a decent chance it will get bought at auction. It will be a bad investment for whoever does buy it, but there's plenty of SJW millionaires who wan't to ride the sinking ship hysterical outrage all the way to the bottom.

Hopefully they'll be bought by Breitbart media.

No, they don't need to start losing money

[Libertas]

Bankrupcty = restructuring, so I'm not dancing in the streets but I am tipping my hat.

WATCHA GONNA DO?!

[Anabasis to Desta]