Gawker Settles With Hulk Hogan: ‘The Saga Is Over’
The ongoing battle between former WWE wrestler Hulk Hogan and Gawker media is over with a multi-million dollar settlement out of court.
On Wednesday, the two sides came to an agreement that Hogan — whose real name is Terry Bollea — will get a $31 million dollar cash settlement, according to a court filings, The New York Times reports.
In March, Hogan won $140 million dollar lawsuit against the outlet for posting a sex tape of him and the wife of a friend, shock jock Bubba the Love Sponge Clem. The jury found that Gawker had invaded Hogan’s privacy. (RELATED: Hulk Hogan Is Suing Gawker Again Over Leaked Documents)
This judgment forced Gawker to file for Chapter 11 bankruptcy and shut down. That combined with the revelation that Silicon Valley billionaire Peter Thiel was backing Hogan, Gawker founder Nick Denton said it was time to end it.
On Wednesday in a blog post, Denton wrote that the “saga was over.” (RELATED: Hulk Hogan Body Slams Gawker, Gets $115 Million Judgment)
“After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached,” Denton wrote. “The saga is over. As the most unpalatable part of the deal, three true stories — about Hulk Hogan, the claim by Shiva Ayyadurai that he invented email and the feud between the founders of Tinder — are being removed from the web.”
“Yes, we were confident the appeals court would reduce or eliminate the runaway Florida judgment against Gawker, the writer of the Hogan story and myself personally,” he added. “And we expected to prevail in those other two lawsuits by clients of Charles Harder, the lawyer backed by Peter Thiel. But all-out legal war with Thiel would have cost too much, and hurt too many people, and there was no end in sight.”
“The Valley billionaire, famously relentless, had committed publicly to support Hulk Hogan beyond the appeal and “until his final victory,” he continued. “Gawker’s nemesis was not going away.”