Nick Denton and Hulk Hogan

The controversial gossip site will stop publishing new material next week under orders from its new owners, and Nick Denton is being shown the door.

The embattled media company was reportedly purchased for $135 million.

The out entrepreneur wrote an op-ed in The New York Times to support a bill dubbed the Gawker Act, to prevent a repeat of what happened to him: "Gawker violated my privacy and cashed in on it."

The out publisher of Gawker is still appealing the decision that he must pay wrestler Hulk Hogan $140 million, but in the meantime is seeking protection from the courts. 

The Gawker Media founder has his own philosophy on when it's appropriate to report on a person's sexual orientation.

Gawker Media's blogs will maintain their daily operations as the company transitions into a new era of ownership.

Now that the gay entrepreneur once outed by Gawker has confirmed he funded Hogan's lawsuits against out media kingpin Nick Denton, the wily publisher wants "an open and public debate."

An out Silicon Valley billionare is funding Hulk Hogan's lawsuit against Gawker.

The former wrestler is back in the ring and looking to cause Nick Denton a lot more financial pain. 

Lawyers for out media mogul Nick Denton are citing the First Amendment in what is seen by legal experts as the first step in a lengthy appeal of the blockbuster verdict.