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Gawker files for bankruptcy

TechCrunch TechCrunch 10/06/2016 Kate Conger

Gawker Media filed for bankruptcy today, according to documents filed in a Southern District of New York court.

The filing comes as Gawker’s legal battle with the wrestler Hulk Hogan (real name Terry Bollea) drags on. Hogan sued Gawker after the site published a clip of his sex tape and a blog post analyzing it. A jury awarded Hogan $115 million in March, a decision which Gawker is appealing.

According to the filing, Gawker’s assets are valued between $50 and $100 million and faces liabilities up to $500 million.

This story is developing and will be updated.

Disclosure: This writer formerly worked for A.J. Daulerio, the author of the Gawker post on Hogan’s sex tape. 

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