What Lies Ahead for Gawker Now that a Tech Billionaire Is Bankrolling Lawsuits Against It?

Cash-strapped company reportedly looking to sell

If you thought the Gawker saga would slow down as we creep closer to Memorial Day weekend, you thought wrong.

Following a dizzying 24 hours that ended with Silicon Valley billionaire Peter Thiel admitting outright that he's been bankrolling multiple lawsuits against the media company, the discussion now turns to Gawker CEO Nick Denton and his ability to withstand all of these costly lawsuits. Though Gawker was dealt another loss on Wednesday when a Florida judge upheld the jury's decision to award Hulk Hogan some $140 million over Gawker's publishing of a sex tape in 2012, the company plans to appeal.

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