Civil Litigation,
Bankruptcy
Apr. 26, 2018
Gawker and Thiel agree to ceasefire
Peter Thiel had funded the lawsuit that brought the media company to bankruptcy.
Peter Thiel, the Silicon Valley investor, at his condo in Manhattan, Jan. 7, 2016. (New York Times News Service)
A settlement announced Wednesday as part of the ongoing bankruptcy of Gawker LLC represents a ceasefire between the defunct media company and billionaire Peter Thiel.
Thiel has agreed not to purchase assets made available at auction in Gawker's bankruptcy, prompted by the media group's inability to pay a $31 million settlement it reached with former professional wrestler Terry Bollea after an adverse jury verdict.
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