>>GAWKER MEDIA GROUP HAS FILED FOR BANKRUPTCY.
IT FINDS ITSELF
ON THE AUCTION BLOCK AFTER IT'S HULK HOGAN SEX TAPE CASE WENT HORRIBLY
WRONG AND A GIGANTIC VERDICT WAS LEVIED AGAINST THEM, IN TERMS OF
THE MONEY THEY WILL HAVE TO PAY HIM --
>>THEY PLAN TO APPEAL IT, OF COURSE --
>>THAT WILL FORM THE BASEMENT
FLOOR FOR HOW MUCH GAWKER, WHICH
IS MADE UP OF A NUMBER OF DIFFERENT POPULAR ONLINE
WEBSITES HAVING TO DO WITH THE NEWS, WITH TECH AND THOSE SORTS
OF THINGS -- THIS CAN BE TRACED BACK OF COURSE TO THEIR DECISION
TO PLAY THE SEX TAPE OF HOGAN, AND HULK, WHOSE REAL NAME IS
TERRY G. BOLLEA --
>>SO WE EXPECTED THAT THAT WAS GOING TO STING, AND COULD LEAD
TO THE DESTRUCTION OF THE COMPANY.
THEY SAY THEY WILL
CONTINUE TO OPERATE DURING THE BANKRUPTCY, AND AS I SAID THEY
WILL BE APPEALING THE JUDGMENT.
BUT FOR GAWKER, FOR ITS OTHER
PROPERTIES, OBVIOUSLY THE PEOPLE WHO WORK THERE, THIS FEUD THEY
HAVE HAD WITH PETER THIEL HAS NOT GONE WELL FOR THEM.
>>IF GAWKER IS WORTH $100 MILLION, WHAT ARE WE WORTH?
PEOPLE ARE SURPRISED THEY WENT BANKRUPT.
REALLY, THERE IS AN
ONLINE MEDIA COMPANY THAT HAS $140 MILLION LYING AROUND?
SEARCH AROUND THE SOFA, WILL YOU?
OF COURSE THEY WENT THANK.
BANKRUPTCY HAS FUNNY LAWS IN AMERICA, THEY CAN RESTRUCTURE,
THEY DON'T HAVE TO PAY ALL THEIR DEBTS, THEY CAN DELAY THE
PAYMENTS TO HULK HOGAN BECAUSE BANKRUPTCY PROCEEDINGS GIVE
YOU SOME PROTECTIONS, THEY WILL BE ABLE TO OPERATE THE
WEBSITE, THE GOOD NEWS IS PEOPLE WON'T GET FIRED
IMMEDIATELY, AND I LIKE SOME OF GAWKER'S WORK.
I DIDN'T AGREE WITH THEM ON WHAT THEY DID WITH THE HULK HOGAN CASE.
>>DO YOU THINK THEY DESERVE THAT PENALTY?
>>IT IS HARD TO TELL.
>>THAT IS A CRAZY NUMBER.
>>DOCTORS WHO CUT OFF THE WRONG WAY DON'T GET JUDGMENTS AGAINST
THEM LIKE THAT.
>>I THINK THAT JURY FELT LIKE THEY WANTED TO SEND A MESSAGE
ABOUT, YOU HAVE INVADED ALL OF OUR PRIVACY FOR TOO GODDAMN LONG.
>>GAWKER HAS MADE A LOT OF QUESTIONABLE DECISIONS, BUT NOT
ALL OF THEIR SITES AND ALL OF THEIR EMPLOYEES HAVE, THAT IS
WHY IT IS GOOD THEY CAN CONTINUE.
BUT THE DOLLAR VALUES
IN THESE CASES ALMOST NEVER MAKE SENSE.
I WOULD LET YOU PUT OUT A
VIDEO OF ME DOING ALMOST ANYTHING YOU CAN IMAGINE FOR
1/100 OF THAT AMOUNT.
>>NO ONE IS OFFERING, JOHN, BUT I HEAR YOU.
>>I WILL DO A KICKSTARTER TO RAISE THAT MONEY.
>>A LOT OF PLEAS FOR FUNDS TODAY, I NOTICED.
>>THE PETER THIEL THING, WHAT THEY DID IN OUTING THAT HE WAS
GAY WHEN IT WAS TOTALLY UNNECESSARY, AND THEY'VE DONE
OTHER THINGS IN TERMS OF REVEALING THAT BROTHERS OF
POLITICIANS WERE GOING TO HIRE A GAY PROSTITUTE OR SOMETHING LIKE
THAT -- THEY MAKE THESE EXTREMELY QUESTIONABLE DECISIONS
THAT DON'T FURTHER THE PUBLIC GOOD, THAT ARE FOCUSED ON MAKING
MONEY -- WITH THIS NEW DEBT IT WILL BE EVEN HARDER TO AVOID
THAT SORT OF TEMPTATION, I SUPPOSE.
BUT THAT DOESN'T MEAN THEY DESERVE THIS SORT OF
JUDGMENT AGAINST THEM.
>>A LOT OF PEOPLE ARE ON PETER THIEL, AND I DON'T AGREE
WITH HIS POLITICS AT ALL, THEY SAY HE HAD A VENDETTA AGAINST
GAWKER BECAUSE OF THAT, HE FINANCED HULK HOGAN'S LAWSUIT.
>>TO THE TUNE OF $10 MILLION.
>>AS MUCH AS I DISAGREE WITH HIS POLITICS, I MIGHT DO THE
SAME THING.
YOU MESS WITH ME, I WILL MESS WITH YOU.
IF I WAS A BILLIONAIRE, WATCH OUT.
>>WE WILL GET YOU, WASHINGTON POST.
>>BUT ALL HE DID WAS HELP FUND A LEGITIMATE LAWSUIT.
THIS IS NOT A FRIVOLOUS LAWSUIT, IT IS LEGITIMATE.
AND 12 STRANGERS VALIDATED IT.
>>THIS IS THE DEATH PENALTY FOR THEM, THE QUESTION MIGHT BE ARE
THEY DESERVING OF THE DEATH PENALTY?
BUT THAT THEY WOULD
FINALLY GET, AS YOU SAID, JOHN, AFTER SO MANY OF THESE HORRIBLE
STORIES, I CONSIDER THEM HORRIBLE BECAUSE AS YOU SAY THEY
HAVE A TENUOUS RELATIONSHIP TO ANYTHING THAT IS GERMANE TO
LIFE IN AMERICA AND THE WORLD, THAT THEY WOULDN'T GET SOME
LEGAL BLOWBACK EVENTUALLY?