Time Warner is shelling out about $580 million in exchange for a 10% stake in Hulu. “The deal means Time Warner will be partners with existing owners Disney, 21st Century Fox and Comcast’s NBCUniversal, and that Time Warner’s channels like Turner and CNN will be part of a new pay TV service Hulu wants to launch next year,” Recode writes.
To keep Hulk Hogan from seizing his assets, Gawker Media founder Nick Denton is filing for Chapter 11 personal bankruptcy protection. Gawker Media itself filed for bankruptcy back in June after a judge sided with Hogan in its suit against the media company. As Politico notes, “Peter Thiel, a billionaire technology venture capitalist who dislikes Gawker, secretly funded Hogan's lawsuit against the company.”