“Gawker Media, the gossip and news company that lost a high-profile court case in which it was ordered to pay $140 million over a violation of Hulk Hogan’s privacy, has filed for Chapter 11 bankruptcy protection from its creditors,” Bill Chappell reports for NPR.
“In addition to its eponymous website, Gawker operates several other popular sites, including Deadspin, Jezebel and Gizmodo,” Chappell reports. “But reports out Friday also said Gawker’s founder, Nick Denton, was trying to find a buyer for the company.”
Chappell reports, “Gawker Media Group says it has reached an agreement ‘to sell its seven media brands and other assets to Ziff Davis, a global digital media company which operates in the technology, gaming and lifestyle categories and is a subsidiary of j2 Global, Inc.'”
Read more in the full article here.
“Peter Thiel is getting closer to his goal: Gawker Media has filed for bankruptcy protection and says it eventually plans to find a new owner for the company,” Peter Kafka reports for Recode. “In a memo to employees, Ziff Davis CEO Vivek Shah says his company has an ‘asset purchase agreement’ to buy seven Gawker titles, and says there is a ‘tremendous fit between the two organizations.’ It is worth noting that while Shah’s memo says he intends to buy Gawker.com, he doesn’t list the site when describing Ziff Davis’ plans to integrate Gawker Media’s other sites.”
“Ziff Davis itself is a company that has gone through the Chapter 11 process. The company was once a dominant force in the trade and hobbyist magazine business, but its fortunes declined along with the print industry, and it filed for bankruptcy protection in 2008,” Kafka reports. “Ziff Davis now operates a tech-centric stable of digital titles, including IGN, AskMen and PCMag, that it says reaches more than 100 million readers a month.”
Read more in the full article here.
“What this means, in short: The company continues normal operations while restructuring itself, and while the highers-up do the restructuring, we’ll focus on the normal operations part,” Katie Drummond writes for Gizmodo. “For as long as science fiction continues to be produced, for as long as the Earth continues to orbit the Sun, for as long as technology companies in need of honest coverage continue to exist…so will Gizmodo and io9.”
Read more in the full article here.
MacDailyNews Take: The saga continues.
What we wrote back in January 2011 after Gawker’s Valleywag outed Tim Cook:
Vendettawag… “Cook, who is running Apple in Jobs’ absence, has been as reticent to acknowledge his sexual orientation,” but Gawker will out him anyway presumably because they were – allegedly – stupid enough to purchase a lost/stolen iPhone 4 prototype and publish detailed descriptions and photos of it online and Apple punched back hard.
So, now Steve’s on medical leave and, darn, it looks like they haven’t been able to buy his X-Rays to slap all over the Web, so they’ll settle for going after Cook, couched as a “profile,” by headlining something that Cook doesn’t mention publicly, much less trumpet, and that has nothing whatsoever to do with being a top Apple executive – or anything else for that matter.
Why not just call Cook the “most powerful man in Silicon Valley next to Steve Jobs?” And, where’s the ValleyWag article about “the most powerful heterosexual man in Silicon Valley?”
Gawker, as usual, comes off as petty, vindictive, and just plain sad.
SEE ALSO:
Tech billionaire Peter Thiel funded Hulk Hogan lawsuit to take down Gawker which outed him, Tim Cook, and others – May 27, 2016
Gawker’s Valleywag outs Tim Cook as ‘most powerful gay man in Silicon Valley’ – January 21, 2011
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]