Gawker Founder Nick Denton has Filed for Bankruptcy

Almost two months after his company went bankrupt, Gawker’s founder Nick Denton has filed for bankruptcy to protect himself from paying the fines that were put against him in the Hulk Hogan case.

In a memo sent to employees of Gawker, he said:

You may have seen the news that I have, as expected, had to join the company in bankruptcy. Peter Thiel’s [the billionaire co-founder of PayPal that Gawker outed in 2007] legal campaign has targeted individual writers like Sam Biddle, editors such as John Cook, and me as publisher. It is a personal vendetta. And yes, it’s a disturbing to live in a world in which a billionaire can bully journalists because he didn’t like the coverage. Still, I’m in a positive frame of mind, because our influential brands will soon be free to thrive under new ownership, and our very existence as an independent entity has been a triumph. For once, the journalistic cliché is appropriate: We’ve spoken truth to power. Sometimes uncomfortable truths. Sometimes gossipy truths. But truths. There is a price to pay for that, and I am paying it now. But we never gave up our souls in the pursuit of an easy life.

Continuing his statements, he publicly said on Twitter:

Gawker Media Group’s resilient brands and people will thrive under new ownership, when the sale closes in the next few weeks. On this bitter day for me, I am consoled by the fact that my colleagues will soon be freed from this tech billionaire’s vendetta.

Gawker will be auctioned off next month, and will most likely go to Ziff Davis, which may not exactly be a good thing.

Matthew Sigler

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Gamertics Managing Editor in training; Ship2Block20 Contributor; Meme; Failure