Tags: peter thiel | gawker | bankruptcy | lawsuit

BuzzFeed News: Peter Thiel Might Want to Buy Gawker.com

Image: BuzzFeed News: Peter Thiel Might Want to Buy Gawker.com
Peter Thiel (AP)

By    |   Wednesday, 22 November 2017 07:35 PM

Peter Thiel, a billionaire venture capitalist and adviser to President Donald Trump, might want to buy Gawker.com — the defunct news website he helped shut down, BuzzFeed News reported.

In a federal bankruptcy court filing Wednesday, Thiel's lawyers objected to the ongoing sale process of Gawker, arguing Thiel had been unfairly excluded from bidding, BuzzFeed reported.

"By wrongly excluding Mr. Thiel, the most able and logical purchaser, from the sale process on specious grounds . . . the Plan Administrator will only depress the value to be achieved in any sale," the lawyers claimed, BuzzFeed reported.

The sale of Gawker's assets — including its domain name, social media channels, and 14-year archive — marks one of the last chapters of a saga that began with Hogan's invasion-of-privacy lawsuit that drove Gawker Media into bankruptcy, BuzzFeed noted.

Thiel, motivated in part by a 2007 Gawker story about his sexuality, had spent millions of dollars funding Hogan's legal challenge.

Unable to pay the $140 million verdict awarded to Hogan by a Florida jury, Gawker Media filed for bankruptcy and sold most of its sites to Univision last year, BuzzFeed noted.

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Gawker.com, the defunct news website Peter Thiel helped shut down, might be bought by the billionaire venture capitalist and adviser to President Donald Trump, BuzzFeed News reported.
peter thiel, gawker, bankruptcy, lawsuit
185
2017-35-22
Wednesday, 22 November 2017 07:35 PM
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