Gawker Media, the gossip and news company that lost a high-profile court case in which it was ordered to pay $140 million over a violation of Hulk Hogan's privacy, has filed for Chapter 11 bankruptcy protection from its creditors.
In addition to its eponymous website, Gawker operates several other popular sites, including Deadspin, Jezebel and Gizmodo. But reports out Friday also said Gawker's founder, Nick Denton, was trying to find a buyer for the company.
Update at 2:30 p.m. ET: Gawker Confirms Ziff Davis Deal