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Peter Thiel Bids on Gawker Assets Amid Bankruptcy

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Peter Thiel made an offer to purchase some assets of Gawker Media LLC, the news and gossip site he helped bankrupt in 2016 by secretly funding a lawsuit, said a person familiar with the offer.

Although media company Univision Holdings Inc. purchased many of Gawker’s assets in 2016, the site’s archives, including stories about Thiel himself, are still for sale. It’s unclear how much Thiel offered or what he intends to do with Gawker if he’s successful in outbidding other suitors.

Thiel declined to comment through a spokesman, and legal representatives for Gawker didn’t immediately respond to requests for comment. Reuters reported on Thiel’s bid earlier Thursday.

The move marks the latest chapter in Thiel’s bizarre history with the site. Nearly a decade after a Gawker story outed the venture capitalist as gay, he secretly bankrolled a lawsuit by former professional wrestler Hulk Hogan against the site for publishing a sex tape. Hogan, whose real name is Terry Bollea, won the suit with a $140 million judgement, toppling the site.

Gawker’s legal team has tried to block Thiel from bidding for the assets. Meanwhile, Thiel has been exploring the creation of a news publication targeting conservatives.

    Read more: http://www.bloomberg.com/

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