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Gawker files for bankruptcy and puts itself up for auction

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Gawker Media has filed for bankruptcy, and the bidding for its assets begins now. On Friday, the embattled media company said it had agreed to sell all seven of its brands and other assets to the tech publisher Ziff Davis. The Ziff Davis bid — worth $90 million to $100 million, according to sources — sets the floor for the bankruptcy auction process.

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