Gawker founder Nick Denton has succumbed to an unfortunate truth: He will have to file for bankruptcy in order to stop Terry “Hulk Hogan” Bollea from seizing his assets.
“Gawker Media Group’s resilient brands and people will thrive under new ownership, when the sale closes in the next few weeks,” wrote Denton, in two tweets. “On this bitter day for me, I am consoled by the fact that my colleagues will soon be freed from this tech billionaire’s vendetta.”
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