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Hulk Hogan and Gawker Media settle for $31 million
Last updated on Nov 04, 2016, 07:00 am
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Former professional wrestler Hulk Hogan and accused Gawker Media reached a cash settlement of $31 million.
Gawker Media was accused of leaking Hulk Hogan's sex tape for which Hogan had won a $140 million judgment.
The current settlement also entitles Hulk to receive a part of Gawker.com's future sale, the one which was excluded in its sale to Univision.
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Gawker Media
What is Gawker Media?
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Incorporated in the Cayman Islands in 2012 by Nick Denton, Gawker Media is an online media company which manages a network of blogs.
Its blogs include Gizmodo, Kotaku, LifeHacker, Gawker.com, Deadspin, Jalopnik and Jezebel.
According to 2014 figures, Gawker Media had an annual revenue of $45 million.
However, in June 2016, it filed for bankruptcy protection after losing a court case against Hulk Hogan.
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Do you know?
Quentin Tarantino sues Gawker Media
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In January 2014, maestro Hollywood film director Quentin Tarantino filed a copyright lawsuit against Gawker Media for leaking the 146 page script of Tarantino's upcoming film, The Hateful Eight.
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Details
The Hulk Hogan v/s Gawker Media Case
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In 2012, Gawker Media posted a sex tape of former wrestler Hulk Hogan.
Hulk Hogan sent Gawker Media cease-and-desist order, but the company refused, following which Hogan sued Gawker for $100 million in damages.
In March 2016, the jury ruled in favour of Hogan, asking Gawker to pay $140 million in damages to Hogan.
Gawker appealed in April, and has now lost the case.
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Do you know?
Daily Mail sues Gawker Media
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British newspaper The Daily Mail sued Gawker Media on grounds on defamation after it published a narrative by a former Daily Mail employee criticizing the Mail's journalistic standards. The Daily Mail stated that the article contained "blatant, defamatory falsehoods intended to disparage The Mail."
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16 Aug 2016
Gawker Media's bankruptcy auction: Possible Buyers
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Gawker Media, an online media company, is up for sale, and here are its potential buyers.
American publishing and internet company Ziff Davis LLC put in a $90 million bid.
Other bidders include Spanish language media company Univision, the New York Magazine, Vox Media, and Penske Media, although the amounts of their bids are unknown.
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17 Aug 2016
Univision wins auction for Gawker Media
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At the auction on 16th August, 2016, Gawker Media was sold to Univision for $135 million.
Univision beat digital media publisher Ziff Davis for the same. The sale will be officially approved by a bankruptcy judge at a hearing, later this week.
The sale of Gawker Media gives the company an outside owner for the first time since it was founded (14 years ago).
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04 Nov 2016
Hulk Hogan and Gawker Media settle for $31 million
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Former professional wrestler Hulk Hogan and accused Gawker Media reached a cash settlement of $31 million.
Gawker Media was accused of leaking Hulk Hogan's sex tape for which Hogan had won a $140 million judgment.
The current settlement also entitles Hulk to receive a part of Gawker.com's future sale, the one which was excluded in its sale to Univision.