Gawker Media founder Nick Denton filed for personal bankruptcy Monday after he failed to win a court order protecting him from paying $140 million in damages to Hulk Hogan.
Gawker came under fire in 2012 when they published a video of Terry Bollea, AKA Hulk Hogan, having sex with his friends wife on their popular website. Hogan’s lawsuit asked for more than a $100 million payment in damages from Gawker, who also filed for Chapter 11 bankruptcy early this year to avoid paying the fine. Gawker has since been finalizing a sale of the company to new ownership.
The bankruptcy may protect Denton from having to pay some, if not all, of the $140 million.
Deton tweeted out the following on Monday:
The tech billionaire comment was directed at Peter Thiel, the cofounder of both PayPal and Palantir. Thiel helped Hogan fund the lawsuit against Gawker, a perceived move of vengeance after Gawker revealed the Thiel was gay back in 2007. Thiel is an avid Libertarian and Trump delegate.He gave a speech at the Republican National Convention this year in which he told the crowd “I’m proud to be gay.”
Hogan’s attorney David Huston said in a statement, “It is time for them to take responsibility for what they’ve done.”
Denton told the court he has assets of $10 to $50 million and liabilities of $100 to $500 million, including the $125 million he owes Hogan.
Denton sent his staff an upbeat memo on Monday after filing, saying “What really lifts my spirits is the way in which we have stood together and just kept on writing, coding, and selling.”