SHARE

Venture capitalist Peter Thiel has made an offer to purchase Gawker, but may face some challenges in purchasing the defunct media blog.
Peter Thiel, who assisted Hulk Hogan in his lawsuit against the now-defunct media blog Gawker, submitted a bid to purchase the media outlet’s remaining assets, according to a Reuters report from Thursday.
Although Gawker has been inactive for more than a year, several parties reportedly have expressed interest in purchasing the site. Some speculate that Thiel has thrown his hat into the ring in response to personal stories that Gawker published about Theil in 2007 regarding his sexuality.
Gawker was ultimately forced to shut down after a court ordered them to pay $140 million to Hulk Hogan over their decision to publish the former wrestler’s sex tape without his permission. The parties ultimately settled for $31 million.
Gawker’s bankruptcy attorney, Gregg Galardi, has expressed interest in blocking Thiel as a potential buyer of the site due to his role in the Hogan lawsuit.
Earlier this week, a group of former Gawker employees disbanded a fundraising effort to revive the site.

Continue reading...