Gawker settles with ex-pro wrestler Hulk Hogan for $31 million: court document

[Eugene]

Source: Reuters

BUSINESS NEWS | Wed Nov 2, 2016 | 2:42pm EDT

Gawker settles with ex-pro wrestler Hulk Hogan for $31 million: court document

By Jessica DiNapoli | NEW YORK

Shuttered irreverent news website Gawker Media LLC has reached a $31 million cash settlement with Hulk Hogan, the former professional wrestler who won a $140 million judgment against the site over a leaked sex tape.

Hogan's judgment forced Gawker, known for its sassy tone and gossipy posts, into bankruptcy in June. Its sister websites, including sports site Deadspin and women's site Jezebel, were acquired for $135 million by media company Univision Holdings Inc in a bankruptcy auction last summer.

"As with any negotiation for resolution, all parties have agreed it is time to move on," said Hogan's attorney, David Houston.

The settlement is subject to approval by a bankruptcy judge.

Silicon Valley billionaire Peter Thiel said in May he helped fund the invasion of the privacy lawsuit filed by Hogan, whose real name is Terry Bollea. The site published an article in 2007 about Thiel's homosexuality.

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Read more: http://www.reuters.com/article/us-gawker-settlement-hogan-idUSKBN12X22C

[MicaelS]

1. Well, 31 is better than nothing.

But Gawker is no more, so that's a positive.