Gawker files for bankruptcy. Good riddance? Or disturbing precedent? | The Tylt
Gawker Media just filed for bankruptcy protection, but the controversial and beleaguered publisher is fighting to stay alive.
Is Gawker a slain villain? Or a victim of capitalist censorship?
Filing Chapter 11 is a strategic move on the part of Gawker and its owner, Nick Denton. The restructuring is about fending off attempts to collect the $140 million awarded in the Thiel-funded lawsuit Hulk Hogan filed against Gawker for posting his sex tape.
Gawker employees have been told that the company still plans to fight the Thiel/Hogan case, keeping their doors open in the meantime. But they're also about to be put up for auction, and publisher Ziff Davis has reportedly made an offer to buy the entire operation for less than $100 million.
Gawker has far more enemies than friends at this point, and many of its detractors celebrated the Chapter 11 news as good riddance to bad media. Others agree with writer Bobduh, who wrote "The lesson to draw from Gawker's demise isn't 'awful journalism eventually fails,' but 'the ultrarich can revoke our existence.'"
Good riddance or frightening precedent? What do you think?
Gawker files for bankruptcy. Good riddance? Or disturbing precedent?
If the bankruptcy news doesn't bother you because it's Gawker, imagine Trump suing USAToday out of business for reporting on his lawsuits.— L. Rhodes (@Upstreamism) June 10, 2016
Gawker is legally and financially in the toilet. Finally, the rest of the company is joining their ethical standards.— Vernaculis (@Vernaculis) June 10, 2016