Chapter 11 Gears ‘Gawker’ Up For Another Round With Hulk Hogan And PayPal’s Peter Thiel

The fight is on now that Gawker Media has filed for Chapter 11 protection in New York, and the litigious fisticuffs between tag team Hulk Hogan and Peter Theil vs. Gawker promises to be a long and controversial one.

As predicted, Hulk Hogan’s $140 million judgement against Gawker for invasion of privacy caused irreparable harm, and the online tabloid is gearing up for the long haul by filing for Chapter 11 bankruptcy and putting the business up for auction as reported by NBC. Desperate times call for desperate measures, especially since Hogan isn’t done with Gawker; he filed another lawsuit over the leaked transcript of him repeatedly using the “N-word” in reference to a man his daughter Brooke was allegedly seeing, during one of his “sessions” with Heather Clem.