Monday, August 15, 2016

"we should know who’s going to buy Gawker Media: Bids for the bankrupt blog pioneer are due by 5 pm ET today"


I read that Ziff Davis put in a $90 million “stalking horse” bid for Gawker. What does that mean?

Two things: It means that Ziff Davis has an obligation to buy Gawker if no other bidders show up, and it means that any other bid needs to exceed $90 million.