From Bloomberg Technology
We got along quite well without Gawker, and will get along even better without it. Poor journalism, vindictive founder, and so it goes. Denton won’t lose his fortune.
“If Peter Thiel’s goal was to punish Gawker owner Nick Denton, then the tech billionaire has succeeded. Gawker Media Group filed for Chapter 11 bankruptcy today and it’s being sold to the highest bidder.
The company released a statement saying it had agreed to sell its seven media brands and other assets to Ziff Davis, which owns the video game site IGN and PC Magazine. The sale is through a court-supervised auction, in which other potential owners could offer higher bids. Ziff Davis has said it would pay around $100 million, according to a person familiar with the matter.?”