Cerberus proffers $22M loan to help Gawker stave off bankruptcy
June 14, 2016
Cerberus Capital Management has reportedly agreed to provide $22 million to help Gawker Media maintain operations. The embattled news organization filed for bankruptcy last week, the latest turn in a saga involving a Hulk Hogan sex tape and Silicon Valley maestro Peter Thiel. The loan from Cerberus will reportedly consist of $14 million on an interim basis and $8 million following final approval from bankruptcy court.