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Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: hal
Date: June 10, 2016 12:45PM
[www.theverge.com]

Gawker Media has filed for bankruptcy, according to documents filed today in Southern District of New York Bankruptcy Court. The filing lists the company's assets as between $50 and $100 million, with liabilities as high as $500 million.

The company's finances are still reeling from a judge's ruling in March that fined the company $140 million for publishing a video of Hulk Hogan having sex. While still subject to appeal, that ruling required the company to present a $50 million bond, a sum that significantly exceeded the company's cash reserves.

The lawsuit was later revealed to be part of a larger punitive legal campaign against the company, secretly funded by Paypal billionaire Peter Thiel. Thiel has admitted to funding the lawsuits as a general campaign against the publication, a decision he came to after a 2006 incident in which a Gawker publication reported on his sexuality. In an interview with The New York Times, Thiel referred to the campaign against Gawker as "one of the best things I've done."
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Paul F.
Date: June 10, 2016 12:59PM
It SHOULD be the price for violating the privacy of ANYONE.. it's sad that it takes a "rich guy" to back getting a judgement against them for releasing a tape they had no right to release.



Paul F.
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Persistence is necessary for Excellence. And Persistence is a Decision.

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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: hal
Date: June 10, 2016 01:03PM
Quote
Paul F.
It SHOULD be the price for violating the privacy of ANYONE.. it's sad that it takes a "rich guy" to back getting a judgement against them for releasing a tape they had no right to release.

No arguments here... not to mention that outting someone who doesn't want to be outted is pretty darned despicable.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: rjmacs
Date: June 10, 2016 01:04PM
Lesson learned: never piss off a Silicon Valley tech billionaire.



rj
AKA
Vreemac, Moth of the Future
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: GGD
Date: June 10, 2016 01:10PM
They also pissed of Hulk Hogan which is the path that led to their bankruptcy. Hulk Mad!!
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: rjmacs
Date: June 10, 2016 01:38PM
Quote
GGD
They also pissed of Hulk Hogan which is the path that led to their bankruptcy. Hulk Mad!!

Yeah, but without the SV billionaire, Hulk wouldn't have been able to do much other than steam in his juices about the sex tape...



rj
AKA
Vreemac, Moth of the Future
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: jdc
Date: June 10, 2016 02:00PM
Quote
Paul F.
It SHOULD be the price for violating the privacy of ANYONE.. it's sad that it takes a "rich guy" to back getting a judgement against them for releasing a tape they had no right to release.

Re: Gawker declares bankruptcy - the price for outting a very rich guy

Its far, far, far, more complicated than that.





Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: hal
Date: June 10, 2016 02:09PM
Gawker has "entered into an asset purchase agreement to sell its seven media brands and other assets to Ziff Davis"

So they aren't exactly dead, but their days of at least being interesting are done.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: SteveO
Date: June 10, 2016 02:16PM
Hubris. Good riddance.
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Re: Gawker declares bankruptcy - the price for outing a very rich guy
Posted by: RAMd®d
Date: June 10, 2016 02:25PM
So they aren't exactly dead, but their days of at least being interesting are done.

I never really found them interesting, and agree that outing someone who doesn't want to be outed is despicable.

Exposing criminal activity or behavior, as in actual investigative reporting is one thing. Outing someone, or any other invasion of privacy for the purpose of selling something or clicks, is despicable.

It may be chicken/egg of equal proportions, but I think the only thing worse than blood-sucking media is its readership.

Not to mention I think the media is given waaaaaay too much latitude in the area of "public" figures as in celebrities not being entitled to the same level of privacy as a "private" citizen, especially under the specious guise of the public's "right" to know.





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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: chopper
Date: June 10, 2016 02:35PM
<<steam in his juices about the sex tape...>>

Bad mental images.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Onamuji
Date: June 10, 2016 03:19PM
This is bad law.

They're press, so there's a large "newsworthy" exemption for much of their work and these are public figures so there's a very high standard to reach for any liability.

They are not responsible for outing Peter Thiel. He was out. Not a surprise in any respect. He actually traded on it a few times when he was seeking venture capital funds. The reporter who allegedly "outed" Thiel said that the offensive headline ("He's totally gay") was due to the attitudes encountered during interviews -- that some of those in Thiel's Silicon Valley billionaire-circles seemed embarrassed that an associate was gay -- and that was offensive to the author.

The already-made-public Hulk Hogan sex tape was news -- his racist remarks and his affair were relevant to his public persona, recent public statements and a lawsuit. Lots of sites linked to it or published stills from it. It's distasteful and morally wrong to wallow in that stuff, but no more or less on Gawker for this one than the Guardian and the NY Post and making a "bad taste" exception to the First Amendment is not the way to handle stuff like this.

It's also notable that by several accounts the Bollea (Hulk Hogan) case was brought in several jurisdictions and under several theories before finding a court that was receptive to the case as a "invasion of privacy" tort. That forum-shopping was necessary is very telling. The idea that a celebrity has a right to privacy that outweighs freedom of the press and the public's right to know is a monumental change in American free press law.

I expect they'll take the appeal if they have the money to take it that far. If they don't... Nobody should be celebrating.

It's called "chilling speech." It's bad. M'kay?



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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: sekker
Date: June 10, 2016 04:03PM
This is not good.

As noted, the fight between PT and Gawker is very complex and goes far beyond the HH tape.

Right now, this will mean real journalism will be at risk from constant lawsuits too.

We have free speech in this country. If you want my opinion of this case, listen to Bezos' interview on it last week.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: jdc
Date: June 10, 2016 04:17PM
The gawker section of the site isnt the greatest -- but some of their sub sites are excellent.





Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Jack D.
Date: June 10, 2016 04:55PM
Quote
sekker
This is not good.

As noted, the fight between PT and Gawker is very complex and goes far beyond the HH tape.

Right now, this will mean real journalism will be at risk from constant lawsuits too.

We have free speech in this country. If you want my opinion of this case, listen to Bezos' interview on it last week.

Is there really any real journalism left? Or at least journalists that proof read??? I'm not worried...



- Jack D.




New tasteless sig coming soon!
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: N-OS X-tasy!
Date: June 10, 2016 05:22PM
Quote
Jack D.
Is there really any real journalism left? Or at least journalists that proof read proofread??? I'm not worried...

There are still some of us.



It is what it is.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: DP
Date: June 10, 2016 06:29PM
Exposing criminal activity or behavior, as in actual investigative reporting is one thing. Outing someone, or any other invasion of privacy for the purpose of selling something or clicks, is despicable.

It may be chicken/egg of equal proportions, but I think the only thing worse than blood-sucking media is its readership.


This. The readership supports it and keeps it going. Also, I had never heard of Gawker until the HH story broke.







Disclaimer: This post is checked for correct spelling, punctuation, and grammar. Any attempts at humor are solely the responsibility of the author and bear no claim that any and all readers will approve or appreciate said attempt at humor.
My name is DP, and I approve this message.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Fritz
Date: June 10, 2016 08:35PM
boo hoo who …..



!#$@@$#!

If there are spelling issues, please pardon, Owen the cat is sitting on my keyboard.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Onamuji
Date: June 10, 2016 08:41PM
Quote
Fritz
boo hoo who …..

With Gawker go io9/Gizmodo/Kotaku/Lifehacker/Deadspin/Jalopnik...

So, yeah. Worth a tear or two.

It's wrong and it sucks.



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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Fritz
Date: June 10, 2016 08:49PM
I suppose G should have thought of that before they invaded privacy.
Too bad for all the jobs they have sacrificed.
But a look at the editorial history seems to indicate a lot of people moving on quickly.
[en.wikipedia.org]

I doubt very much that Mr Denton will suffer like his employees will.
Free speech and outing those who don't want to be or needs to be are 2 very different things.
Some other 5h1t will be along soon enough. Perhaps the Kardashians will start a rag. Or Yeezy



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If there are spelling issues, please pardon, Owen the cat is sitting on my keyboard.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: decay
Date: June 10, 2016 09:10PM
I stand with Gawker, too. And I don't even really care much for the site.

Gawker Smeared Me, and Yet I Stand With It
By STEPHEN MARCHE
MAY 31, 2016


[www.nytimes.com]



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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Onamuji
Date: June 10, 2016 09:14PM
Quote
Fritz
Free speech and outing those who don't want to be or needs to be are 2 very different things.

1. They didn't out him.

2. Please enunciate the legal standard to distinguish protected "news" from your "not free speech" category.



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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Fritz
Date: June 11, 2016 06:50AM
"news" ain't a sex tape nor that some execute is gay just to get ads.
How did either of these news "events" benefit anyone other than Denton?
there are no laws in this or any other countries for either.
I would call it courtesy or humility. Seems to be lacking in the US. Presidential candidates on down.
I would put most of the blame for that on the media where, I by the way, earn a living as well.



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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Onamuji
Date: June 11, 2016 06:59AM
Quote
Fritz
"news" ain't a sex tape nor that some execute is gay just to get ads.

I disagree.

When it's about a hypocritical politician, that stuff is news. No disputing that.

So, in that context, why isn't it news when the sex tape shows a public figure contradicting his public political statements with racist comments?

Why isn't an honest profile of a politically and economically influential man (who was already out) news?

Isn't pretty much all news-reporting "just to get ads" ...? How do you think newspapers get the money to pay their reporters?

"Because I don't like it" is not a good legal standard for excising the First Amendment from the Constitution.







Edited 1 time(s). Last edit at 06/11/2016 07:00AM by Onamuji.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Fritz
Date: June 11, 2016 07:23AM
Quote
Onamuji
When it's about a hypocritical politician, that stuff is news. No disputing that.

Y

So, in that context, why isn't it news when the sex tape shows a public figure contradicting his public political statements with racist comments?

the world is full of public figured idiots, I don't think we need to know them all or learn of their (surprise!) attitudes, especially when his attitudes exposed would be preaching to his own choir.

Why isn't an honest profile of a politically and economically influential man (who was already out) news?

mmmmm, coz he didn't want it out and apparently wasn't asked and who cares?
G, near as I could tell, was just overnight People. Sure there's a place for it, but then the publisher and staff must suffer the results of their own doing.
When I f up a job, I pay for it, just not on the same $150M scale. Should have thought of that before he left home.


Isn't pretty much all news-reporting "just to get ads" ...? How do you think newspapers get the money to pay their reporters?

Yes. But what is the definition of news? As I said, overnight People. You reap what you sow.

"Because I don't like it" is not a good legal standard for excising the First Amendment from the Constitution.

So what was the court decision based on? Just Theils right wing $ ?
That would never happen here…..



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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Onamuji
Date: June 11, 2016 08:22AM
Quote
Fritz
So what was the court decision based on? Just Theils right wing $ ?

Yes. (Except not right-wing. He's a bit of an all over the place nutter when it comes to political causes. Very much on the autism spectrum with ADD and paranoia and the causes that he supports reflect that.) He blew (by his account) upwards of $10 million to find just the right cause of action with just the right judge in just the right jurisdiction. Pennies to you or me.

Most judges would have thrown it out for not stating a a cognizable claim. "Invasion of privacy" is not generally applicable to public figures without an egregious physical trespass, breach of contract or "false light" portrayal. Did they break into Hulk Hogan's house? Did they have a deal not to publish anything negative against those controversial figures? Did they publish something false?

The case was decided wrong on ts face. It's bad law and bad people like Thiel will exploit it.







Edited 1 time(s). Last edit at 06/11/2016 08:23AM by Onamuji.
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Re: Gawker declares bankruptcy - the price for outting a very rich guy
Posted by: Fritz
Date: June 11, 2016 08:24AM
Quote
Onamuji
It's bad law and bad people like Thiel will exploit it.

hmmm, where have we experienced that before ………….



!#$@@$#!

If there are spelling issues, please pardon, Owen the cat is sitting on my keyboard.
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