Screengrab: Recode
Gawker Media filed for Chapter 11 bankruptcy Friday in New York's Southern District bankruptcy court. The company was ordered to pay Terry Bollea (Hulk Hogan) $140 million earlier this year for publishing portions of the former wrestler's sex tape, a controversial lawsuit that's being funded by Silicon Valley billionaire Peter Thiel.The filing was signed by Gawker founder Nick Denton and president Heather Dietrick. Recode is reporting that Denton plans to sell the company.In the filing, Gawker estimated its assets between $50 and $100 million and estimated its liabilities between $100 and $500 million. Earlier Friday, the company was granted a stay in the Hulk Hogan case, meaning the company won't have to pay its $140 million judgment until the case is heard on appeal.Gawker listed its largest debtor as Terry Bollea (Hogan), and noted that it owes him $130 million. The company listed 20 other debtors, many of which are lawyers, web traffic analytics companies, and consultants.Here's the full PDF of the filing.Gawker Bankruptcy filing by MotherboardTV
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