"Wheelerguy" (wheelerguy)
03/19/2016 at 04:51 • Filed to: None
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"Wheelerguy" (wheelerguy)
03/19/2016 at 04:51 • Filed to: None | 4
| 11 |
well the Bollea v Gawker Medi a case may be a bit off your comfort zone, but where do you think the rest of GM’s sites will go?
Flavien Vidal
> Wheelerguy
03/19/2016 at 05:17 |
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I highly doubt anything will change... Gawker Media is worth 320 million $$, is a very profitable company that keeps on growing since 2010 and lots of investment funds have invested in it... They will bail it out and that will be it. It will take a few years for Gawker to get its money back, it will be forgotten and they’ll get sued again for something else!
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Wheelerguy
> Flavien Vidal
03/19/2016 at 05:57 |
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We still need a co-op, though, with all the user sites and any GM writer who sides with us. We’ll do a better civil war than America, much less Marvel.
LongbowMkII
> Wheelerguy
03/19/2016 at 07:31 |
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Appeals court. It'll get erased or highly reduced.
SVTyler
> Flavien Vidal
03/19/2016 at 07:31 |
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We’ll see man, apparently punitive damages haven’t been decided yet and could potentially be 3x the original payout. Given how mind-bogglingly stupid Gawker and their lawyers were during the trial the jury could absolutely fuck Gawker to set an example for other media sites. Keep in mind the $320mm is total value, not liquid assets, and considering Gawker supposedly only made $45mm in net revenue last year against $6mm profit, they’re going to have a hell of a time paying it back without drastrically restructuring or selling off assets.
Further complicating this whole clusterfuck is Florida law, which apparently* requires either $50mm or 10% of the original judgement (if a 3rd party verifies the full judgment amount is available) to be paid as a non-refundable bond in the event of an appeal, which could take up to two years to actually go in front of a judge. That’s just an automatic stay on the judgment, Gawker can still ask the court for one without paying the full $$$ and still receive it.
*I’m not a lawyer, this is just what I’ve seen from Reddit (who’re having an absolute field day with this),
this site
, and
this site
. Read into it what you will.
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Wheelerguy
> LongbowMkII
03/19/2016 at 08:20 |
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Sure do, or we’re gonna have to fall on our knees to have Hogan spare us.
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LongbowMkII
> SVTyler
03/19/2016 at 08:46 |
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Danger and play sounds like it was written by Brucie from GTA4 hahaha.
crowmolly
> SVTyler
03/19/2016 at 08:47 |
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If it ends up sticking I’ll bet there will be outside funding or angel investors that come in and buy share. I don’t think Gawker or Kinja is going anywhere.
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SVTyler
> LongbowMkII
03/19/2016 at 08:53 |
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It did read a bit like a late-night SpikeTV voiceover, didn’t it?
Frenchlicker
> Wheelerguy
03/19/2016 at 08:58 |
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Wouldn't what started as essentially a tabloid site have some sort of insurance that would partially cover something like this?
CammedCTSV
> LongbowMkII
03/19/2016 at 09:18 |
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He never returns my calls :(
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SVTyler
> crowmolly
03/19/2016 at 09:46 |
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Supposedly Nick Denton got some VC funds lined up in the past year in preparation and I’d imagine more companies would be wanting to invest considering Gawker’s pageview numbers. I wouldn’t be surprised to see some drastic changes (more ads, less content from fewer writers, some less-profitable subblogs shut down or sold) but I doubt Gawker is going to completely shut down like the angry mob is celebrating it is.