Gawker Media Wants to Take a $22 Million Loan from Cerberus Capital

Posted by at 10:51 am on June 14, 2016

Cerberus Capital ManagementGawker 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.

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