![]() ![]() In one of its most infamous stories, Gawker reported on a New York media executive soliciting the services of a male escort. Gawker is infamous for publishing stories about the private lives of the rich and powerful (and, in some cases, people who aren’t particularly rich or powerful) that more conventional media organizations would not have published. Photo by John Pendygraft-Pool/Getty Images Gawker’s style of journalism shows little concern for privacy Gawker founder Nick Denton. #GAWKER OUT OF BUSINESS FREE#There’s a real worry that Thiel’s tactics could endanger the free press by giving billionaires a new weapon to use against media outlets they don't like - a weapon that has already been used against at least one non-Gawker outlet. He has borne a grudge against Gawker ever since it revealed that he was gay in 2007, and in recent years he has been secretly funding the Hogan lawsuit and others against Gawker Media. Gawker’s bankruptcy also represents a triumph for technology billionaire Peter Thiel. If Gawker’s loss is upheld on appeal, it will force other media organizations to tread more carefully with these kinds of stories. That culminated with the 2012 publication of a sex tape that Hogan says was made without his knowledge or consent. Gawker has aggressively pursued stories about the private lives of celebrities, repeatedly publishing stories that more traditional news outlets would have declined to publish. Gawker's bankruptcy represents a devastating blow not only for Gawker founder Nick Denton and the site's other investors but also to the sensationalistic and privacy-hostile style of journalism Gawker represents. ![]() According to the Wall Street Journal, the digital media company Ziff Davis is expected to make an initial $100 million bid for the company, and other potential buyers will be invited to make competing offers. That will likely involve selling the company to another media company. The bankruptcy process should protect Gawker from its creditors while the company tries to find a long-term solution to its legal and financial woes. #GAWKER OUT OF BUSINESS PRO#The company was forced to take the drastic action after a jury awarded former pro wrestler Hulk Hogan $140 million in damages - a judgment the media company can’t afford to pay. Gawker Media, the company behind the website as well as sites like Jezebel and Gizmodo, filed for bankruptcy on Friday. ![]()
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