Gawker Media has asked the US bankruptcy court permission to borrow up to $22 million to keep it operating during the Chapter 11 process, filed after a failed bid to postpone paying ex-pro wrestler Hulk Hogan.
Cerberus Capital Management is known for distressed securities and asset investment, commercial lending, and leveraged buyouts. The current chairman of global investments for Cerberus is ex-Vice President Dan Quayle.
