Figure Four Weekly 8/22/2016: Gawker destroyed by Hulk Hogan

“Peter Thiel has achieved his objectives. His proxy, Terry Bollea, also known as Hulk Hogan, has a claim on the company and my personal assets after winning a $140 million trial court judgment in his Florida privacy case. Even if that decision is reversed or reduced on appeal, it is too late for Gawker itself. Its former editor, who wrote the story about Hogan, has a $230 million hold on his checking account. The flagship site, a magnet for most of the lawsuits marshaled by Peter Thiel’s lawyer, has for most media companies become simply too dangerous to own.”

—Gawker founder Nick Denton in his farewell post, titled “How Things Work”

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