FILE PHOTO: Paypal co-founder Peter Thiel speaks at the Republican National Convention in Cleveland, Ohio, U.S. July 21, 2016. REUTERS/Jonathan Ernst/File Photo

(Reuters) - Venture capitalist Peter Thiel may be looking to buy online news site Gawker.com, BuzzFeed said on Wednesday.

Thiel's lawyers have objected to the currently ongoing sale process of Gawker.com, saying that he has been prohibited unreasonably from bidding for the website's assets, the internet media company reported, citing a federal bankruptcy court filing. (bzfd.it/2zYuQmk)

Thiel, who is Facebook Inc’s first major investor and a co-founder of payment service PayPal, is known for funding the Hulk Hogan lawsuit that led to the shutdown of Gawker. The site published an article in 2007 about Thiel’s homosexuality.

He may buy the defunct website to stop any legal threats against him or to remove content, BuzzFeed reported.