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MegaThread[MegaThread] Gawker Files for Bankruptcy (self.KotakuInAction)

saint2eSaintpai[M] が 投稿 - stickied post

First of all, let's get this out of the way.

Now that that's done, there are multiple outlets reporting that Gawker has filed for bankruptcy:

ZeroHedge

CNBC's Twitter

CNBC

New York Post

New York Times

Huffington Post

According to Poynter, a $100 million offer from publisher Ziff Davis LLC has the opening bid on Gawker now that it is up for auction.

According to Recode, Gawker will sell the company to Ziff Davis, owner of IGN and 1UP .

Basically, it's Gamergate Christmas in June.

I'll try and keep up with the many many threads that have and are being posted about this, and all Gawker bankruptcy related stuff should be here.

If you have a new link, please message me, or name drop me and I'll add it to the OP.

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[–]agentace7 [スコア非表示]  (0子コメント)

Vox should be next.

[–]CrankyDClown [スコア非表示]  (1子コメント)

Good bloody riddance and may the dance threads commence.

[–]allo_ver [スコア非表示]  (0子コメント)

This should become a special day in KiA. Every year we create a thread and celebrate the end of Gawker.

[–]s7rugg1e [スコア非表示]  (0子コメント)

Hopefully Notch buys Kotaku and Milo buys Jezebel and everything else goes to Hulk.

[–]HandofBaneMod - Lawful Evil [スコア非表示]  (2子コメント)

Pretty clear what this means.

Time to start looking at making that $4.37 bid on Kotaku.

[–]SixtyFours [スコア非表示]  (9子コメント)

Gawker is being auctioned and Ziff Davis is putting $100 million on them. http://www.poynter.org/2016/gawker-media-files-for-bankruptcy/416247/

Ziff Davis made a comment on the bid

[–]ClockworkFool [スコア非表示]  (7子コメント)

Who the hell is Ziff Davis, I wonder?

[–]SixtyFours [スコア非表示]  (2子コメント)

The owners of IGN, GameSpy, UGO, 1UP, TeamXbox, and the current owners of GameTrailers video archive.

[–]Limon_Lime37k + 48k GET Knight Commander Mod | is a whiny baby [スコア非表示]  (1子コメント)

So they are just going to combine the biggest clickbait rags?

[–]SixtyFours [スコア非表示]  (0子コメント)

No. Everything but IGN is dead. They could buy these assets and then shut them down.

[–]dgol1115 [スコア非表示]  (0子コメント)

it's a rather large publishing company. that said, they are a major corporation, so their legal department will likely be a little stricter when it comes to.. ahem... reporting.

[–]dgol1115 [スコア非表示]  (0子コメント)

HAH actually they own IGN, and ASKMEN i'm literally dying this is gonna be hilarious.

[–]Orgell_Evaan [スコア非表示]  (0子コメント)

IGN, Computer Shopper(I remember going through the dead-tree version of this for deals on 5 1/4 floppies and DIP RAM...), etc.

[–]Cakes4077 [スコア非表示]  (0子コメント)

That's the starting price for what will be a court sponsored auction.

[–]Perplexico [スコア非表示]  (0子コメント)

Every reasonable person's reaction.

[–]SentientJelly [スコア非表示]  (0子コメント)

Mmm...so nice

And now we play a lil waiting game to see how they liquidate in the not so distant future.

[–]NastyLittleBugger [スコア非表示]  (0子コメント)

Couldn't happen to nicer chaps.

[–]Son0fSunTango Uniform-Delta-Uniform-Delta, repeat [スコア非表示]  (0子コメント)

It's a celebration!

[–]PXAbstraction [スコア非表示]  (2子コメント)

Not to be a downer here but I don't expect much to change. This was a calculated move on Denton's part. By putting Gawker's current corporate form into bankruptcy, he's trying to get out of his obligations to pay the judgement. He'll likely sell Gawker to some other company, who will reincorporate it under another name. He'll get his payday, they won't have to pay anything to Hulk and the new owners will keep the same garbage "journalism" going because until now, it was profitable and vulture capitalists like this only care about money, not ethics.

I seriously, truly hope I'm wrong but I don't think this means the end of the Gawker sites, not at all.

[–]ITworksGuys [スコア非表示]  (0子コメント)

If I remember right he is personally on the hook for some of that money.

Also, he has a billionaire pissed at him. The pain train isn't going to stop.

[–]Orgell_Evaan [スコア非表示]  (0子コメント)

Bollea (AKA: Hulkster) is a "Secured Creditor"; he gets paid first, not last.

[–]mct1#explode [スコア非表示]  (0子コメント)

HULKAMANIA'S SCORED A MAJOR VICTORY FOR TRUTH, JUSTICE, AND THE AMERICAN WAY, MY LITTLE HULKSTERS. ME AND PETER MARSHALLED THE HULKAMANIACS AND DELIVERED A FLYING LEG DROP THAT SENT GAWKER REELING, AND NOW YOU SEE THE RESULTS. THE TRAINING, THE PRAYER, THE VITAMINS, THEY ALL PAID OFF, AND NOW ITS TIME FOR NICK DENTON TO PAY UP. WHATCHAGONNADO, NICK DENTON, WHEN YOU FIND OUT GAWKER'S BANKRUPTCY WON'T DISCHARGE YOUR PERSONAL LIABILITY TOO? <FLEX>

[–]ebEliminator [スコア非表示]  (0子コメント)

I hereby motion to change the name of this subreddit from KotakuInAction to KotakuInaction. Good day.

[–]mnemosyne-0001 [スコア非表示]  (0子コメント)

Archive links for this discussion:

I am Mnemosyne reborn. REACTOR ONLINE. WEAPONS ONLINE. MEMORY ONLINE. ALL SYSTEMS NOMINAL. /r/botsrights

[–][削除されました]  (1子コメント)

[removed]

    [–]HandofBaneMod - Lawful Evil[M] [スコア非表示]  (0子コメント)

    No direct links to other subs, especially that one. You can repost it as an archive then reply to this comment to get it approved.

    [–]SpiritualSuccessorsDoesn't Matter, Had Conversation (◕‿◕✿) [スコア非表示]  (1子コメント)

    Dear God,

    I'm not a religious person, but if you could just have everyone associated with Kotaku jobless, homeless and sucking dick behind a dumpster to get by within a month I'd maybe go to church a few times a year.

    Thanks.

    [–]Limon_Lime37k + 48k GET Knight Commander Mod | is a whiny baby [スコア非表示]  (0子コメント)

    I doubt they will become jobless because the clique will just get them jobs at another corrupt site.

    [–]arcticwolffox [スコア非表示]  (0子コメント)

    Ding Dong, the witch is dead!

    [–]Limon_Lime37k + 48k GET Knight Commander Mod | is a whiny baby [スコア非表示]  (0子コメント)

    KEK

    [–]sekru [スコア非表示]  (0子コメント)

    Obligatory.

    [–]thebeginningistheend [スコア非表示]  (0子コメント)

    That's impossible.

    Christmas isn't for another 6 months.

    [–]0_0__-------____ [スコア非表示]  (0子コメント)

    Oh fuck yea, bud. Bring back bullying!

    [–]TheWastelandWizardCaused destruction at GGinSF2 [スコア非表示]  (0子コメント)

    Crossposting to the Megathread, a few notes;

    This isn't goodbye just yet, this is Gawker doing their best to survive. Chapter 11 is a tool to restructure debts and assets to minimize damage to the company overall. Punitive damages cannot be eliminated in bankruptcy however, which means they might end up having to sell some properties for a lot less than they'd hope for.

    There are a lot of different ways that they can use the Chapter 11 to their advantage, trying to eliminate as much debt with creditors and utilize it as a way to keep the company afloat, however, the judgement settlement can't be eliminated through bankruptcy filings, and the companies net worth is tanking due to toxic brand image. They're going to end up eliminating a lot of properties for peanuts, and hope to stay out of the fire as best they can.

    This is very much a "Wait and See" situation, though I think we can chalk it up as a "Win"

    [–]stljustice [スコア非表示]  (0子コメント)

    I've waited for this for a long time. https://www.youtube.com/watch?annotation_id=annotation_278154&feature=iv&src_vid=np6vAuS0KNs&v=DXpmunmG5ss

    [–]allo_ver [スコア非表示]  (0子コメント)

    ... And nothing of value was lost