Gawker Media founder faces personal bankruptcy

By Jessica DiNapoli NEW YORK (Reuters) – Gawker Media LLC founder Nick Denton faces personal bankruptcy after a U.S. judge refused on Tuesday to extend protections shielding him from liabilities resulting from a lawsuit over the invasion of privacy of former professional wrestler Hulk Hogan. The decision represents a victory for Hogan as well billionaire investor Peter Thiel, an early backer and board member of Facebook Inc who helped fund Hogan's lawsuit following the publication of an article by Gawker about Thiel's homosexuality. "This story will conclude with Gawker Media's popular brands sheltered under new ownership and the importance of a free and critical press reaffirmed by the courts.

Original story here.

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