Gawker's shell settles with Hulk Hogan for $31 million 

 

NEW YORK (AP) — The shell of Gawker has settled with Hulk Hogan for $31 million, ending a years-long fight that led to the media company's bankruptcy, the shutdown of Gawker.com and the sale of Gawker's other sites to Spanish-language broadcaster Univision.

 

Gawker founder Nick Denton in a Wednesday blog post said that the "saga is over."

 

The invasion-of-privacy case, which revolved around a sex tape posted on Gawker.com, resulted in a $140 million verdict won by the former professional wrestler in a Florida court. It became even more notorious when it emerged that Silicon Valley billionaire Peter Thiel had secretly bankrolled the suit. Thiel was outed as gay by a Gawker-owned website in 2007.

 

The settlement instead means Hogan will get $31 million as well as 45 percent of the proceeds from potential sale of Gawker.com, said Elizabeth Traub, a spokeswoman for Hogan's lawyer, David Houston. Gawker.com is dormant but its archives remain online.

 

Houston said in an emailed statement that "all parties have agreed it is time to move on."

 

Denton said in the Wednesday post that he was confident that an appeals court would have reduced the $140 million verdict, but "an all-out war with Thiel would have cost too much, and hurt too many people, and there was no end in sight...Gawker's nemesis was not going away." Thiel has said he would support Hogan, whose real name is Terry Bollea, "until his final victory."

 

Denton also said Wednesday that as part of the settlement, three "true stories" — about Hoganand two others who had also filed suit — are being "removed from the web." Univision, which bought Gawker Media's other sites for $135 million, has already deleted several posts from the properties it now owns, which include tech blog Gizmodo and women-oriented site Jezebel, because they were tied to litigation.

 

The two others mentioned by Denton, a journalist and a man who says he invented email, will settle with Gawker for a total of $1.25 million, the bankruptcy court papers indicated Wednesday.

 

Denton himself also had to file for personal bankruptcy because of the Florida court's verdict. Court documents filed Wednesday said there have been settlement talks between Gawker and Denton as well, although they have not reached a final settlement.

 

-- © Associated Press 2016-11-03

i bet his ex wife will have a say in this, lol !! "honey i can't manage on tha alimony"

... only in america ...

4 hours ago, Jack Mountain said:

... only in america ...

Yes, the Land of the Free. And Home of the Brave. Best country in the world.

21 minutes ago, bark said:

Yes, the Land of the Free. And Home of the Brave. Best country in the world.

Come on bark give Canada an honorable mention. 

Just now, elgordo38 said:

Come on bark give Canada an honorable mention. 

True. Brothers in Arms. And Hockey.

Just now, bark said:

True. Brothers in Arms. And Hockey.

Reminds me of camping just across the border. I bought Blue at the border only one case and was trading 2 for 1 around the campfire. Got to like Pabst Blue Ribbon. After drinking we used to skinny dip in the water. We were NCHA members. Great times. 

1 hour ago, bark said:

Yes, the Land of the Free. And Home of the Brave. Best country in the world.

Sadly they think they are the ONLY country in the world ...

Just now, Jack Mountain said:

Sadly they think they are the ONLY country in the world ...

You mean they are not ? Nuke Bomb and the Man on the Moon.

1 hour ago, bark said:

True. Brothers in Arms. And Hockey.

Ah yes the memories of true brothers in arms and fun times at RMA in Gainesvilles, as the only Canadian in camp in 69 and many feeling as if it was a matter of national pride to try and prove the US could knock the sense out of me and Canada. There's times I'm not at all sure who won, or else I forget what I was supposed to learn, but it was all in fun......... no offence intended. 

They can make a movie of me draining my spuds and post it online for a LOT less than $31 M !!

 

 

1 hour ago, bark said:

Its, the Land of the Free. And Home of the Brave. Best country in the world.

 

Love them or hate them, It's true.

2 hours ago, silent said:

Ah yes the memories of true brothers in arms and fun times at RMA in Gainesvilles, as the only Canadian in camp in 69 and many feeling as if it was a matter of national pride to try and prove the US could knock the sense out of me and Canada. There's times I'm not at all sure who won, or else I forget what I was supposed to learn, but it was all in fun......... no offence intended. 

It's all good.

1 hour ago, bark said:

It's all good.

Appreciated. (It's a slippery slope here recently and I can't help myself)