![]() We have been forced by this litigation to give up our longstanding independence, but our writers remain committed to telling the true stories that underpin credibility with our millions of readers. ![]() In the same statement, CEO Nick Denton said:Īuthentic writing, whether it takes the form of honest reviews of technology, video games and entertainment, or revelations about the way the system works, is more important than ever. The sale and filing are intended to preserve the value of GMG’s pioneering digital news business, safeguard the jobs of journalists and other staff, and allow GMG to fund the appeal against the $130 million judgment in the Hulk Hogan case against the company in a Florida state court. Gawker Media’s parent company, Gawker Media Group, explained the decision to sell in a statement distributed on Friday: The bankruptcy process will involve an auction of the company, including its seven main media brands, and several additional buyers beyond Ziff Davis are expected to enter the bidding. In tandem with its bankruptcy filing, the company announced that it has entered into an asset purchase agreement with the media conglomerate Ziff Davis, which serves as an initial bid to purchase the company. However, it is the most significant change to Gawker’s corporate structure in its 14-year history. The filing is not expected to affect Gawker Media’s normal editorial or business operations for the foreseeable future. Campbell of Pinellas County, Florida denied Gawker’s request to stay the enforcement of a $50 million bond that would allow it to appeal the $140 million verdict that a 6-person jury awarded Hulk Hogan in March. This plan will allow Gawker to continue functioning, but will require selling the company to another entity. Four of the 18 pages are the same title card with the CernoMedia logo.Executives at Gawker Media told employees today that the company has filed for Chapter 11 bankruptcy due to Silicon Valley billionaire Peter Thiel’s third-party funding of several lawsuits against the company. The 18-page presentation spotlights Cernovich’s 2015 self-published book, Gorilla Mindset, a self-help book for men hoping to become “alpha males.” It also boasts about the size of Cernovich’s social-media following, which includes an audience of some 400,000 on Twitter and Facebook. “We follow the precept that, ‘Conflict is attention,‘ and seek to break stories that involve high human drama,” reads one slide outlining Cernovich Media’s strategy. The offer letter links to a password-protected slide deck that describes his media company. ![]() It seeks ownership of Gawker’s domain names and 200,000-odd archived articles. Since Gawker has brand recognition, a blog with a high page rank, and two large social media accounts, my team will be able to leverage these properties to continue my journalistic work.” The letter, which was confirmed by Ropes & Gray, the law firm representing Gawker in its bankruptcy proceedings, is dated January 9-the day after a failed Kickstarter by ex-Gawker employees had ended, and the same day that Steve Bannon, another far-right media figure, left the board of Breitbart. “I also work with a network of independent journalists. “For the past eighteen months I have assembled a video and audio crew who are talented at creating viral content,” Cernovich writes in the letter, addressed to Gawker bankruptcy plan administrator William Holden. Mike Cernovich, the right-wing lifestyle guru and self-proclaimed journalist, is offering $500,000 in cash for Gawker’s assets, according to a copy of the offer letter obtained by the Hive. PayPal co-founder and Gawker nemesis Peter Thiel isn’t the only one eyeing the final remains of Nick Denton’s gossipy, sometimes groundbreaking media empire.
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