The corporate story of this Friday is a media story that wraps in Silicon Valley, celebrity journalism, the federal bankruptcy code and the changing nature of web publishing.

Gawker Media filed for Chapter 11 protection today after the judge in the Hulk Hogan sex tape suit confirmed a $140 million judgement against the company.

Peter Kafka is a senior editor at Recode where he’s been covering the case. Kafka spoke with Kai Ryssdal.

Click the audio player above to hear the full interview.