Peter Thiel Has Dropped His Plans to Buy Gawker

Paypal co-founder Peter Thiel has abandoned his plans to buy the news organization he helped take down.

Gawker Media went bankrupt two years ago after Thiel bankrolled Hulk Hogan‘s lawsuit against the gossip site for publishing the pro-wrestler’s sex tape. Thiel helped Hogan because of his longstanding grudge against Gawker, but for the last few months, the billionaire investor insisted that he wanted to buy the site’s archives for the sake of preservation, rather than completely...

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