PayPal CEO Peter Thiel had the last laugh after all after the owner of a leftist and liberal news outlet, Gawker Media, filed for Chapter 11 bankruptcy to protect his personal assets from former wrestler Hulk Hogan.
Nick Denton owes US$ 125 million to Hogan, according to his bankruptcy filing, which helps keep Hogan from collecting on his jury award.
An internet entrepreneur, Denton has US$ 100 million to US$ 500 million in liabilities and his assets are worth US$ 10 million to US$ 50 million, according to his filing.
A.J. Daulerio, a former Gawker editor who was also named in Hogan's lawsuit, is expected to file for bankruptcy, too, according to Politico.
In March, a jury awarded Hogan, whose real name is Terry Bollea, US$ 140 million in compensatory and punitive damages after he sued the media company for invasion of privacy. The lawsuit stemmed from a 2012 Gawker post that featured a portion of a sex tape recorded without Hogan's knowledge.
"Gawker Media Group’s resilient brands and people will thrive under new ownership, when the sale closes in the next few weeks," Denton tweeted around the time his paperwork was filed. "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."
The tech billionaire Denton referred to was Thiel, the man who helped bankrolled Hogan's legal battles. Thiel was featured in one of Gawker's article a few months back and revealed publicly that the PayPal owner was gay even if there was no consent given to reveal the information.
Gawker Media acted like a petulant child, claiming it was their "right" to print whatever they would like. They destroyed that man's marriage. He had 3 kids.
Well, payback is definitely a b!tch!
Nick Denton owes US$ 125 million to Hogan, according to his bankruptcy filing, which helps keep Hogan from collecting on his jury award.
An internet entrepreneur, Denton has US$ 100 million to US$ 500 million in liabilities and his assets are worth US$ 10 million to US$ 50 million, according to his filing.
A.J. Daulerio, a former Gawker editor who was also named in Hogan's lawsuit, is expected to file for bankruptcy, too, according to Politico.
In March, a jury awarded Hogan, whose real name is Terry Bollea, US$ 140 million in compensatory and punitive damages after he sued the media company for invasion of privacy. The lawsuit stemmed from a 2012 Gawker post that featured a portion of a sex tape recorded without Hogan's knowledge.
"Gawker Media Group’s resilient brands and people will thrive under new ownership, when the sale closes in the next few weeks," Denton tweeted around the time his paperwork was filed. "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."
The tech billionaire Denton referred to was Thiel, the man who helped bankrolled Hogan's legal battles. Thiel was featured in one of Gawker's article a few months back and revealed publicly that the PayPal owner was gay even if there was no consent given to reveal the information.
Gawker Media acted like a petulant child, claiming it was their "right" to print whatever they would like. They destroyed that man's marriage. He had 3 kids.
Well, payback is definitely a b!tch!
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