Gawker Settles Hulk Hogan Sex-Tape Lawsuit for $31 Million
- Peter Thiel-backed privacy case pushed company into bankruptcy
- Gawker founder Denton says ‘all-out legal war’ was too costly
Terry Bollea, aka Hulk Hogan, testifies in court during his trial against Gawker Media at the Pinellas County Courthouse on March 8, 2016 in St Petersburg, Florida.
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Gawker Media LLC reached a settlement in the invasion-of-privacy lawsuit brought by Hulk Hogan and backed by Peter Thiel that drove the web company into bankruptcy.
Hogan, the former pro wrestler whose real name is Terry Bollea, will get $31 million in cash plus a share of creditor proceeds in Gawker’s bankruptcy, according to papers filed Wednesday in Manhattan federal court. The pact resolves a $130 million judgment that Hogan won against the company and its founder, Nick Denton, in a lawsuit over the publication of video excerpts of Hogan having sex with a friend’s wife.