Peter Thiel submits bid for Gawker, faces challenges

in #life7 years ago (edited)

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.

Gawker, 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.

Read more: https://www.reuters.com/article/us-gawker-thiel/peter-thiel-submits-bid-for-gawker-faces-challenges-idUSKBN1F02V2

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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It's so funny how Thiel bankrupted them and is now trying to buy them.
Ultimate revenge story.

Verry good post

Sometimes, to become successful you have to be ruthless. That’s what most of them billionaires are. They just show they care. And scary thing about it is that they know it. More ruthless, more fortune!
Resteemed!

It'll be interesting to see how this plays out. The whole Gawker-Thiel saga has been fascinating to watch from afar.

Damn, never knew this side of Peter Thiel. I knew he was a visionary but a revengeful person is new for me.

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