Gawker founder Nick Denton files for bankruptcy after Hulk Hogan lawsuit

Gawker Media founder Nick Denton filed Monday for personal bankruptcy protection in a bid to stop Hulk Hogan from seizing his assets in a multimillion-dollar sex tape judgment.

The office of the British internet entrepreneur, who controls a 68 percent stake in the news and entertainment website, confirmed the move to AFP. His lawyers gave no further details when asked to comment.

In March, a US jury in Florida ordered that wrestling star Hogan be allowed to collect $140 million in total compensation after Gawker published a tape of him having sex with a friend's wife.

Gawker Media filed for Chapter 11 bankruptcy protection in June, also seeking to sidestep a shutdown over the jury's verdict.

Denton estimated his assets at $10-15 million, according to a copy of his Chapter 11 individual bankruptcy filing published by Politico.

In a memo to staff, obtained by AFP, Denton appeared upbeat about the prospects of Gawker surviving.

Gawker Media founder Nick Denton filed Monday for personal bankruptcy protection in a bid to stop Hulk Hogan from seizing his assets in a multimillion-dollar sex tape judgment.

The office of the British internet entrepreneur, who controls a 68 percent stake in the news and entertainment website, confirmed the move to AFP. His lawyers gave no further details when asked to comment.

In March, a US jury in Florida ordered that wrestling star Hogan be allowed to collect $140 million in total compensation after Gawker published a tape of him having sex with a friend's wife.

Gawker Media filed for Chapter 11 bankruptcy protection in June, also seeking to sidestep a shutdown over the jury's verdict.

Denton estimated his assets at $10-15 million, according to a copy of his Chapter 11 individual bankruptcy filing published by Politico.

In a memo to staff, obtained by AFP, Denton appeared upbeat about the prospects of Gawker surviving.

Tech billionaire Peter Thiel acknowledged that he helped fund the litigation. He has feuded for years against Gawker since it "outed" him as a homosexual.