Gawker did not immediately respond to TheWrap’s request for additional comment. The sale will be conducted via bankruptcy court auction later this month, during which other prospective buyers can bid up the price for the company. In June, Gawker entered into an asset purchase agreement to sell its seven media brands to Ziff Davis.
If even one person has been spared the humiliation that Mr. Bollea’s legal bills, and everything to do with Denton’s own choices and accountability. “His bankruptcy has nothing to do with who paid Mr. Bollea, is not the puppet he thought it would be,” Bollea attorney David Houston told TheWrap last week. “The Appellate court, in which he has guaranteed victory over Mr. a Florida jury awarded 140 million to Hogan, whose legal name is Terry Bollea, in the case that centered on Gawker's publication of a sex tape featuring Bollea and a former friend's wife.
#Hul hogan gawker settlement professional#
Jurors determined that Hogan had suffered emotional distress from the 2012 publication of the sex-tape footage in addition to suffering an invasion of his privacy.Īlso Read: Nick Denton Says No Gawker Story Was Ever as Inaccurate as NYT Iraq Reporting Gawker Media and former professional wrestler Hulk Hogan have reached a settlement after years of litigation in an invasion of privacy lawsuit. After awarding Bollea $115 million in damages, the jury tacked on another $25 million in punitive damages. In March, a jury awarded Bollea a total of $140 million, after Gawker published portions of a sex tape featuring the wrestler and the then-wife of his close friend, Todd “Bubba the Love Sponge” Clem. We’ve been hearing these rumblings many times over the years when the judge ordered settlement discussions, and you know where we are now. Denton’s biggest creditor by far is Hogan, real name Terry Bollea, thanks to the multi-million judgment, which Denton’s filing notes is pending appeal. Gawker Media and Hulk Hogan are in preliminary talks to settle the 140 million invasion-of-privacy judgment that has plunged the blog network into bankruptcy, according to the Wall Street Journal. He estimates that his liabilities are in the range of just over $100 million to $500 million. Hulk Hogan, the retired wrestler who won 140 million in an invasion-of-privacy lawsuit against Gawker in March after it published a sex tape of him and a friend’s.
Gawker filed for bankruptcy following the judgment, which has also impacted the personal finances of founder Nick Denton, who filed for Chapter 11 bankruptcy last week.
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