The Hollywood Reporter announces that after a judge ruled that Gawker Media has to pay Hulk Hogan $140 million, the company has filed for Chapter 11 Bankruptcy. It is also looking for a buyer. The company has less than $100 million in assets, and still has a spate of upcoming lawsuits, including: "claims from a journalist and the alleged inventor of e-mail who both say they were defamed. Gawker is also facing off against the parent company of Daily Mail in court and was hit with a copyright lawsuit this week over a photograph of an Uber car." Couldn't have happened to a nicer company.
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