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.”