Gawker Files for Bankruptcy, Puts Itself Up for Sale

Reuters: Gawker Media has filed for Chapter 11 bankruptcy and put itself up for sale after a $140 million court judgment against it in a lawsuit brought by Hulk Hogan. Ziff Davis has entered an agreement to buy Gawker’s assets, but that may be only the initial bid in a court-supervised auction likely to take place at the end of July.