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November 26, 2017 02:00 am

After Bankrupting Gawker, Peter Thiel Demands a Chance to Buy Them

An anonymous reader quotes BuzzFeed:In a federal bankruptcy court filing on Wednesday, lawyers for venture capitalist Peter Thiel objected to the ongoing sale process of Gawker.com, arguing that the billionaire has been unfairly excluded from bidding for the assets of the defunct news website... Whoever ends up buying the site will also buy its archives, which are still up, and will have the right to do with them what they want, including delete them. In the filing, Thiel's lawyers allege that he was prevented from receiving information in regard to a potential bid for Gawker.com by plan administrator William Holden and his counsel, Gregg Galardi, following a Wall Street Journal story in October that said Holden and Galardi had started to market the website to potential buyers... The Wall Street Journal reported that Holden has been exploring the sale of Gawker.com since July, and that he recently marketed the site's potential legal claims against Thiel as part of its appeal. The marketing of those claims is at the center of Thiel's complaint, in which his lawyers argue that Holden should not be able to conduct a sale of those claims and ask that the court drop a motion that allows for discovery to move forward. Thiel's representatives also said that they contacted those administrating the sale of Gawker.com last month "to express Mr. Thiel's interest in participating in the sale process," but that they had been rebuffed and then ignored. Thiel's complaint calls him the "most able and logical purchaser."

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