Bankruptcy

Gawker Media, the gossip and news company that lost a high-profile court case in which it was ordered to pay $140 million over a violation of Hulk Hogan's privacy, has filed for Chapter 11 bankruptcy protection from its creditors.

In addition to its eponymous website, Gawker operates several other popular sites, including Deadspin, Jezebel and Gizmodo. But reports out Friday also said Gawker's founder, Nick Denton, was trying to find a buyer for the company.

Update at 2:30 p.m. ET: Gawker Confirms Ziff Davis Deal

Ron Reiring / Flickr

The Pittsburgh region continues to experience fewer bankruptcies than its benchmark peers – an example of its economic stability, according to Pittsburgh Today.

According to a new report released by the organization, Pittsburgh had 1,845 bankruptcies in the 2015 third quarter, which is lower than almost all 15 benchmark regions, with the exception of Charlotte, N.C. and nearly half of the benchmark average of 3,419.

A Second Act For Pittsburgh's August Wilson Center

Aug 27, 2015
Erika Beras / 90.5 WESA

The beleaguered August Wilson Center announced new funding, programming and board members in the latest effort to bring the African-American arts institution into financial viability and to fulfill its mission as a cultural institution.

Leaving Detroit, and Those Who Remain

Aug 1, 2013
Don Harder/Flickr

When Ben Schmitt, a free lance writer and former journalist at the Detroit Free Press, left the city, he felt as though the cliche of the American dream “had evolved to fight or flight.” After packing up and heading back to Pittsburgh, he has a few parting words for those who stayed behind:

“I wish them nothing but the best of luck.”

For those who did remain, however, the city’s recent decision to file for bankruptcy is neither a surprise nor a game changer. As Craig Fahle, host of The Craigh Fahle show on Detroit’s NPR member station WDET, puts it, “we’re handling it the same way we’ve always handled the situation here.”