Hulk Hogan's sex tape publisher Gawker files for bankruptcy

Gawker Media, the online publisher ordered to pay $140m (€124m) to former wrestler Hulk Hogan over publication of a sex tape, yesterday filed for bankruptcy protection and is planning to put itself up for sale.

The move will intensify public debate in the US over the role of big money in media lawsuits.

Billionaire investor Peter Thiel, an early backer of Facebook and a co-founder of PayPal, bankrolled Hogan’s lawsuit.