Bankruptcy Judge Approves Plan to Put Gawker Up for Auction

At a hearing on Thursday, U.S. Bankruptcy Judge Stuart Bernstein momentarily gave attorneys for Gawker Media a bit of a scare by refusing to allow Gawker to move forward with a plan to sell the media company. However, the judge has now signed off on the planned auction next month.

When Gawker declared Chapter 11 on June 10, after experiencing a $140.1 million final judgment in the Hulk Hogan sex-tape lawsuit, it was announced that Ziff Davis would be putting up $100 million and acting as the stalking horse bidder at a coming auction.

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