Gawker Media founder and CEO Nick Denton will file for personal bankruptcy protection as early as Monday after losing a fight in a Florida court for a shield against a judgment in a breach of privacy case involving professional wrestler Hulk Hogan, according to a person familiar with the matter.
The source asked not to be identified because Denton has not commented on his plan.
On Twitter (twtr), Denton said on Monday "On this bitter day for me, I am consoled by the fact that my colleagues will soon be freed from this tech billionaire' s vendetta."
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Denton did not immediately respond to a request for comment.
Nick Denton: ‘I Wish I’d Known How Litigious Hulk Hogan Was.' For more, watch:
Gawker Media filed for bankruptcy in June after Hogan won a $140 million court judgment against the site in a lawsuit over a sex tape. Silicon Valley billionaire Peter Thiel, an early backer and board member of Facebook (fb), helped fund Hogan's lawsuit against Gawker and Denton after the gossip news site published an article about Thiel's homosexuality.