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Gawker Media files for bankruptcy thanks to Hulk Hogan and Peter Thiel
A few weeks ago, it was revealed that Silicon Valley billionaire Peter Thiel, a co-founder of Paypal and current Facebook board member, was bankrolling Hulk Hogan's lawsuit against Gawker Media. (Got all that?) Despite the fact that Gawker has vowed to appeal the massive $140 million judgement against it, the company today has filed for Chapter 11 bankruptcy protection. The media company is now entertaining bids to buy the company, and Recode reports that publisher Ziff Davis has already put in a bid in the $100 million range.
