Gawker Media is looking to be purchased after it announced on Friday that it has filed for bankruptcy protection in the wake of a judge awarding Hulk Hogan a $140 million lawsuit in a privacy trial against the company earlier this spring.
One such suitor is publisher Ziff Davis, which has reportedly offered to buy Gawker Media for less than $100 million. Ziff Davis knows something of the Chapter 11 process itself, having filed itself when its hobbyist magazine business suffered along with the print industry as a whole back in 2008. The company now publishes digital, tech-centric titles, Recode reports, and reaches over 100 million readers a month with publications like IGN, Ask Men, and PCMag.
In a memo from Ziff Davis, the company wasn't clear about what would happen with Gawker itself if it were to become the purchaser, since its interests in Gawker Media apparently lie in other sites:
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
In the event we become the acquirer, the additions of Gizmodo, Lifehacker, and Kotaku would fortify our position in consumer tech and gaming. With the addition of Jalopnik, Deadspin, and Jezebel, we would broaden our position as a lifestyle publisher. Much like us, GMG is heavily active in driving commerce-based revenues and has an impressive publishing and commerce platform with Kinja. [Recode]
However, Gawker assumes it will see higher bids; owner Nick Denton has said that he believes the company is worth between $250 million and $300 million.
-
Political cartoons for October 24Cartoons Friday’s political cartoons include the news cycle, opening of the new White House ballroom, AI data centers taking over, and more
-
The six-seven meme that has taken over the worldIn the Spotlight With roots in rap and basketball, the phrase has young people obsessed, and it could be here to stay
-
Five takeaways from Plaid Cymru’s historic Caerphilly by-election winThe Explainer The ‘big beasts’ were ‘humbled’ but there was disappointment for second-placed Reform too
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
