Gawker Media might be up for sale following Hulk Hogan’s $140 million verdict

Gawker Media for sale

Gawker Media has hired an investment banker to explore its options following its $140 million invasion-of-privacy loss to Hulk Hogan. Among those options is a possible sale of the media company.

Silicon Valley billionaire Peter Thiel told The New York Times that he has bankrolled lawyers to mount cases against Gawker.

Gawker’s attorney believes they can still prevail in an appeal of the verdict and the company has said it in the past that it was looking at possible contingency plans.

The company would not say when the banker, Mark Patricof of Houlihan Lokey, was hired.

The possible sale of the company was reported earlier by The New York Post and The Wall Street Journal.