From Reuters
NEW YORK (Reuters) - Venture capitalist Peter Thiel has made an offer for Gawker, hoping to overcome legal hurdles and rival bidders for the online news site the billionaire helped shutter by funding litigation against it, people familiar with the matter said on Thursday.Read more: https://www.reuters.com/article/us-gawker-thiel/peter-thiel-submits-bid-for-gawker-faces-challenges-idUSKBN1F02V2Gawker, which has been inactive for more than a year, is conducting an auction of its remaining assets, including its domain names and nearly 200,000 archived articles. Most of its assets, including its sister pages Deadspin, a sports site, and Jezebel, a feminist blog, were bought in 2016 for $135 million by media company Univision Holdings Inc (UVN.N).
Thiel has not said why he wants Gawker, though the potential acquisition would let him take down stories regarding his personal life that are still available on the website, and remove the scope for further litigation between him and Gawker. Thiel, who is Facebook Inc’s (FB.O) first major investor and a co-founder of payment service PayPal Inc (PYPL.O), did not respond to a request for comment.
Gawker’s bankruptcy plan administrator Will Holden, of consulting firm Dacarba LLC, and the website’s bankruptcy attorney Gregg Galardi, of law firm Ropes & Gray LLP, have tried to block Thiel’s bid, according to court papers.
If you didn't know. This guy backed Hulk Hogan's lawsuit that bankrupted Gawker as revenge for publicly outing him as gay. No matter how you view the man and his politics you've got to admit he is fucking ruthless in exacting revenge. Do not get yourself on Peter Thiel's bad-list.
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