Here’s How the Gawker Media Auction Will Work

Sometime in the next day or so, we should know who’s going to buy Gawker Media: Bids for the bankrupt blog pioneer are due by 5 pm ET today, and tomorrow Gawker’s banker will conduct an auction.

If you’re well versed in bankruptcy law, you know what’s going to happen next. Since I’m not, I asked people familiar with this case for some guidance. I also talked to Peter Friedman, who specializes in this stuff for O’Melveny & Myers LLP. He isn’t working on the case, but he was generous with his time.

We can’t call these frequent questions and answers. So let’s just call this an exchange between you — a person who has questions — and me, a guy trying to answer them.

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