![]() ![]() 'The public's overwhelming support for Hulk Hogan in this case, and its apparent distaste for Gawker, are signs that the public - and perhaps the courts - are no longer willing to take an 'anything goes' approach to newsworthiness and want more legal protections for privacy,' she said. The bankruptcy 'drives home what's been the message of the Gawker case all along - that today the media can't necessarily be as confident as they once were that they can publish with impunity,' said Samantha Barbas, a law professor at the University at Buffalo Law School. Bollea (Hogan) was listed as Gawker's biggest creditor in its bankruptcy filing. Gawker also has to pay $25 million in punitive damages. Hogan argued in court that it was a violation of his privacy, and a Florida jury awarded him $55 million for economic injuries and $65 million for emotional distress. Hulk Hogan, sued Gawker for $100 million after the site posted a video in 2012 of him having sex with his former best friend's wife. Gawker couldn't immediately be reached for comment. Bankruptcy Court for the Southern District of New York, Gawker listed estimated assets of $50 million to $100 million and liabilities of $100 million to $500 million. Nick Denton, founder of the online media company, had been considering selling Gawker's blogs after a judge denied last month its motion to seek a new trial. ![]() 'There's a tremendous fit between the two organizations,' Ziff Davis CEO Vivek Shah wrote in a staff memo that was obtained by USA TODAY. The verdict awarded Hogan, 62, 55 million in economic injuries and 60. Gawker's properties, which include 'Gizmodo,' 'Lifehacker' and 'Deadspin,' are expected to continue operations during bankruptcy proceedings. Former professional wrestler Hulk Hogan has been awarded 115 million in his invasion of privacy lawsuit against Gawker. The auction is expected to begin in late July. The court must approve the sale's price and terms. Ziff Davis plans to buy Gawker's blogs - but not assume its liabilities - if no other offer emerges. Ziff Davis, the digital publisher of 'AskMen,' 'PCMag' and 'Computer Shopper,' has placed a bid for Gawker's assets - with $100 million as the opening price - before an auction that will be supervised by the bankruptcy court, according to a person familiar with the matter. Gawker Media, which was recently ordered to pay about $140 million to Hulk Hogan, filed for Chapter 11 bankruptcy protection on Friday and put its assets up for sale, conceding its difficult future after a contentious invasion-of-privacy lawsuit brought by the former wrestler. ![]()
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