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Gawker files for bankruptcy following $140 million judgment in Hulk Hogan lawsuit

Posted at 1:08 PM, Jun 10, 2016

Follow a $140 million judgment in a lawsuit brought on by former pro-wrestler Hulk Hogan, media company Gawker has filed for Chapter 11 bankruptcy. 

Politico is reporting Gawker Media Group, Inc. made the move in order to protect assets from being seized by Hogan as a result of the lawsuit. The report also says Gawker has no intention of stopping their operations. 

The Wall Street Journal reported Friday that the company would be put up for auction, beginning the bidding at $100 million. 

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Read more here from Politico. 

This is a breaking news story, so check back for updates.