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Judge Authorizes Lead Bid For Gawker

Submitted by jhartgen@abi.org on

A judge approved the lead bid for Gawker on Wednesday while a lawyer for the blog’s former publisher said two or three other parties have also expressed interest in potentially acquiring the mothballed website, WSJ Pro Bankruptcy reported. Bankruptcy Judge Stuart Bernstein authorized the $1.13 million lead offer from Mineola, N.Y.-based advertising firm Didit during a hearing in the U.S. Bankruptcy Court in New York. The court also set a July 9 deadline for submitting potentially higher bids for the blog. Advisers liquidating Gawker Media LLC will hold a bankruptcy auction if rival offers for the site emerge in the coming weeks.