![]() ![]() 'I know they are going to want to speak to me,' Denton said in court Tuesday of other potential bidders for Gawker. Prior to the ruling, Denton said a personal bankruptcy process would be major distraction to him as he helps navigate Gawker through its auction, arguing that he would be playing a crucial role. But this was only meant to be a stalking horse bid, setting the floor price in an auction process that is now underway. When Gawker filed for bankruptcy, it had an agreement from online publisher Ziff Davis LLC to buy the company for $90 million. Gawker and its investment bankers are now soliciting acquisition offers for the company. Thiel did not immediately respond to a request for comment.Īttorneys for Gawker argued that without the shield, Denton would be distracted by his own personal bankruptcy process, harming Gawker's business and its plan to sell itself in bankruptcy.
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