Sad in a way. AFAIK, Gawker is not only one of the few independent online media companies (VICE/Vox/BuzzFeed/BusinessInsider are heavily funded/owned by massive media conglomerates), it was one of the few media companies period making a healthy profit:
http://www.politico.com/media/story/2016/06/gawkers-pre-hoga...
> The company’s revenue had grown from about $5.3 million in 2006 to $43.8 million in 2014. It was consistently profitable, with a 2014 operating income of $6.7 million. Most importantly, it had an ambitious plan to create a lucrative new revenue stream by monetizing third-party content on its proprietary online publishing platform, Kinja, that promised to deliver the site from many of the increasing pressures facing ad-supported digital publishing.
I wouldn't be surprised if Gawker were the only online-only media company that was making profits in the range of millions. That Hogan video, which couldn't have brought in more than a good week's worth of traffic, was a fucking dumb way to flush a nearly billion dollar company down the toilet. For legal reasons, Gawker has publicly stood by the former editor who published the post (and then who went on to create another Gawker-like site [1], that immediately folded because of non-traffic), but I wonder if Gawker employees are privately treating him like a pariah.
[1] http://ratter.com/