Nick Denton is preparing to wrap up his time in bankruptcy protection, bringing an end to a contentious chapter in the career of the Gawker founder, the Wall Street Journal reported. The cause of Denton’s financial distress, a $140 million legal judgment awarded to wrestler Hulk Hogan, has been settled in connection with Gawker Media Group Inc.’s bankruptcy case. And the Gawker proceedings are expected to deliver a “substantial” payout to Denton next month, according to his lawyers. Citing these developments, Denton on Friday filed court papers asked a New York judge to dismiss his own chapter 11 case. Proceeds from Gawker’s liquidation will be more than enough to pay his remaining creditors, his lawyers said.
