Nick Denton, founder of Gawker Media during the Interactive Advertising Bureau (IAB) MIXX 2010 conference and expo in New York, on Sept. 27, 2010.
Andrew Harrer—Bloomberg/Getty Images
August 2, 2016 1:47 AM EDT

Gawker Media founder Nick Denton on Monday confirmed that he filed for personal bankruptcy.

The news comes after a Florida judge ruled (and denied Denton’s request to stay said ruling) that former wrestler Terry Bollea, better known as Hulk Hogan, could begin collecting on a judgment against Denton and his company for invasion of privacy.

Denton is personally liable for $10 million of the judgment and jointly liable for an additional $115 million, estimates the Wall Street Journal.

In the wake of that filing, Denton sent the following memo to his staff, entitled “Before the dawn”:

Gawker Media will be auctioned off next month. Ziff Davis currently leads a pack of at least 15 suitors with a bid of $90 million, according to various reports.

Denton added in a Tweet: “Gawker Media Group’s resilient brands and people will thrive under new ownership, when the sale closes in the next few weeks.”

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