Gawker.com was purchased at a bankruptcy auction by Bryan Goldberg, the CEO of Bustle and co-founder of Elite Daily.
Gawker was forced to file for bankruptcy after losing a lawsuit to Wrestler Hulk Hogan (Terry Bollea) for leaking a sex tape of him and Heather Clem, the wife of shock jock Bubba the Love Sponge. Apparently, Bubba the Love Sponge and Heather are swingers.
The lawsuit resulted in a $140 million dollar judgment in favor of Bollea, however, it was reduced to $31 million, but that was still enough to force Gawker to file for a Chapter 11 Bankruptcy.
Opening bids for Gawker.com started at $1.13 million, but the final price is unknown at this time. Gawker did sell its other assets to Univision for $135 million. Other Gawker media includes Lifehacker, Deadspin, Gizmodo, Jezebel, Kotaku, Jalopnik.
The twist and turns of Gawker read like like a novel.
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