Gawker founder Nick Denton issued a statement on Tuesday announcing he may have to file for personal bankruptcy in the wake of the $140 million judgment against the company for publishing Hulk Hogan's sex tape. That lawsuit was filed with the monetary support of another Gawker antagonist, tech billionaire Peter Thiel. Gawker Media already filed for bankruptcy and put itself up for sale this past June in the wake of the judgment.
Denton's full statement below, via Jonathan Randles.
Denton is personally liable for $10 million of the $140 million judgment. He told a Manhattan Federal Bankruptcy Court Judge on Tuesday that paying it off would force him into personal bankruptcy.
He also made clear that he had spending much of his time on the advertising side of the business. "The need for care on the advertising side has increased," he told the judge. He said he is spending much of his time letting advertisers know that Gawker Media "will deliver on all deals that it makes under new leadership."