Aron D’Souza is the man behind Peter Thiel's successful campaign to destroy Gawker through litigation, according to an exposé by Buzzfeed News. The whole thing seems to dance pretty close to the line for what constitutes maintenance. Read the rest
Gawker was bankrupted by Peter Thiel, who secretly backed Hulk Hogan's lawsuit against the network of news, entertainment and gossip sites in an act of petty revenge. Read the rest
A lawyer for Melania Trump argued in a lawsuit filed today that a since-retracted Daily Mail article claiming she once worked as an escort harmed her odds of establishing “multimillion dollar business relationships” during the years in which she would be “one of the most photographed women in the world.” In a sense, the lawsuit is all about a purported right to cash in on being the First Lady. Because that's what being the First Lady is all about.
The deal is done. Gawker Media today settled its case with former wrestling star Hulk Hogan, which brought Nick Denton's blogging empire to bankruptcy, ending the company's long reign as an independent news organization.
The publishing company is now putting itself up for sale, reports the New York Times, citing an anonymous source. Gawker Media Inc. filed for Chapter 11 bankruptcy on Friday “after a judge overseeing the suit against the company entered the full judgment and denied Gawker’s request for a stay under terms the company could meet.”
Peter Kafka reports that Gawker's filed for bankruptcy protection to avoid paying Hulk Hogan the $140m judgment he won against it. Though legal experts believe the judgment will be much-reduced or overturned at appeal, the filing readies Gawker for the block. Ziff Davis, the tech publisher, is reportedly offering $90-$100m.
Gawker and its banker Mark Patricof assume that the company will eventually see higher bids while it is in bankruptcy protection. Last year, in advance of the Hogan trial, Denton figured his company was worth something in the $250 million to $300 million range.
But in any case the company won’t trade hands until Gawker either beats back Thiel and Hogan or it finishes a court-approved restructuring. Because no one wants to buy an ongoing lawsuit from Peter Thiel.
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.
It emerged in recent weeks that billionaire Peter Thiel funded Hogan's lawsuit, exacting long-awaited revenge for Gawker having outed him as gay in 2007. Read the rest
In this video from the Recode conference, an interesting reveal of what Amazon.com CEO Jeff Bezos thinks of the legal battle between Peter Thiel and Gawker, with Hulk Hogan as a most unfortunate proxy. Bezos is full of surprising insights here, and offers Thiel some tough love.
The only effective defense public figures like Thiel have against their critics, says Bezos: “Develop a thick skin.”
Billionaire Pierre Omidyar "steps into the ring" in the long-running legal fight over privacy and journalistic freedom, fought lately between Hulk Hogan and Gawker Media. The intervention, on Gawker's side--Omidyar is himself a media man, now--came after it turned out billionaire Peter Thiel was secretly funding Hulk's suit.
Alternative subtitle: "No matter who wins, we news."
Cast it in the comments. I'm thinking Kenneth Branagh as Denton, Michael C. Hall as Thiel, Christopher Lambert as Omidyar, Hulk Hogan as Terry Bollea, and any random carnie as Hulk Hogan. Read the rest
Time to see how much money is in those Cayman Island accounts.— Joel and 9 Others (@joeljohnson) March 18, 2016
A Florida jury today ruled in favor of Hulk Hogan's privacy claims instead of Gawker's arguments for press freedom. The court handed the former wrestling star a $115 million verdict against Gawker Media over a 2012 gawker.com blog post about the now-infamous Hulk Hogan sex tape.
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Old wrestlers come from a world where there’s no such thing as a lie, just a “work,” where the faces and heels would change in separate dressing rooms, and onscreen personas had to be maintained on the street, to keep up the illusion and protect the business. Consequently they live entirely in fantasy kingdoms of their own making, where the truth is whatever version of the facts is coming out of their mouth at that given moment, repainting incidents from the past like dinosaur hunters crushing prehistoric butterflies beneath their heel