Restructuring: Gawker Media, LLC: Chapter 11 Bankruptcy Filing
Gawker Media, LLC was an online digital media company based in New York, New York. Its publications included Gizmodo, Lifehacker, Jezebel, and Deadspin. Opportune LLP was engaged by Gawker Media to provide essential restructuring support during its Chapter 11 bankruptcy filing and through the eventual wind-down of the estate.
Leading up to the auction of Gawker Media’s properties in August 2016, a principal of Opportune served as its Chief Restructuring Officer (CRO). Along with restructuring support, Opportune’s extended dynamic team of tax and accounting personnel evaluated Hungarian and Cayman Island tax structures to maximize proceeds to all constituents, and conducted validation of historical transactions with its subsidiaries.
Opportune added tremendous value in executing and finalizing the sale process of most of Gawker Media’s properties to a subsidiary of Univision Communications. The successful auction resulted in a recovery for the bankrupt estate of over $135 million. Additionally, nearly all operations will continue under the new ownership, and with essentially all of Gawker Media employees keeping their jobs.
Because of the complexities of restructuring, Opportune differentiates itself with our ability to bring experts from tax, process & technology, accounting, and corporate finance. In virtually all of our engagements, a core restructuring team is supported by the diverse expertise within Opportune, for the benefit of our clients. For more information, click here.