Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

Gawker files for bankruptcy after Hulk Hogan lawsuit

Friday, June 10, 2016 - 00:51

Gawker Media, the online publisher ordered to pay $140 million to former wrestler Hulk Hogan over the publication of a sex tape, filed for bankruptcy and is planning to put itself up for sale. Linda So reports.

▲ Hide Transcript

View Transcript

Gawker Media has filed for Chapter 11 bankruptcy and plans to put itself up for sale. The move comes after the online publisher recently lost a high-profile case in which it was ordered to pay $140 million to former wrestler Hulk Hogan over the publication of a sex tape. After the ruling, it emerged that billionaire investor Peter Thiel, an early backer of Facebook and a co-founder of PayPay had bankrolled Hogan's lawsuit. In 2007, Gawker published an article that outed him as gay. In March, a jury in Florida awarded $140 million to Hulk Hogan after Gawker published a video clip of the former wrestler having sex with the wife of his then-best friend, radio shock jock Bubba the Love Sponge Clem.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Gawker files for bankruptcy after Hulk Hogan lawsuit

Friday, June 10, 2016 - 00:51