Denton: $12K Dick Pic Worth Millions to Gawker [Video]

Nick Denton and Henry Blodget were in a jovial mood today, chatting about the new media business at Business Insider’s Ingnition Conference. 

Blodget wanted to know if Denton, who recently penned an opus on Gawker’s new direction, would be moving away from some of their most successful, but ethically questionable practices, like paying for scoops.

“I love paying for information!” Denton affirmed, estimating that the $12,000 Gawker paid for pictures of Brett Farve’s penis have added millions to the value of his sports blog, Deadspin.

“The other thing I love about it is, it gets the traditional media contorted, because they certainly do it themselves, certainly in television… They’re envious but dissaproving. It’s a beautiful thing to watch.”