Tech Billionaire Peter Thiel Ends Bid to Buy Gawker

Peter Thiel is no longer trying to get his hands on Gawker’s now-dormant website and its archive of articles — apparently to avoid a costly and embarrassing legal fight over his backing of the litigation that drove Gawker Media into bankruptcy.

In a filing with the U.S. Bankruptcy Court in New York Wednesday, Thiel and his investment firm, Thiel Capital, said they had reached an agreement with the firm handling the liquidation of Gawker Media’s remaining assets to withdraw the bid.

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