Corporations that publish tabloids and disseminate yellow journalism are vulnerable to incurring one or more massive judgments that may threaten their financial viability. This can happen to a Pennsylvania business or to one in another state, and if the judgment is big enough, bankruptcy protection may be needed. In recent years, yellow journalism has appeared online and the risk of an extreme judgment being entered is a factor for those companies. One such company is Gawker, an online news feed that suffered a $140 million judgment in a defamation lawsuit filed by the professional wrestler, Hulk Hogan.
Online publication Gawker weighs bankruptcy outcome and choices
Twinkies reborn; Hostess out of bankruptcy and going public
Even the doomed Twinkie cake can emerge strong from a bankruptcy. Not seen so much in Pennsylvania, where the Tastykake brand remains supreme, the Twinkie was nonetheless the nation's best known sweet-tooth junk-food indulgence for many years. The company had to choose bankruptcy, however, in 2012 as a result of the trend toward eating healthier foods and internal union issues within the Hostess Brands parent company.
