11/14/2023 0 Comments Gawker sued againThis past March, a Florida jury awarded the former wrestler $140 million in damages after he sued the media company and its founder for invasion of privacy for publishing a portion of a sex tape that featured him. In a blog post on the settlement, Nick Denton, the founder of Gawker Media, wrote: "After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached. We would like to thank everyone involved in the process." As in any case involving negotiation all parties give-and-take. This will allow people to go about their lives and concentrate on things more important than continued court proceedings. Hogan's camp said in a statement: "After almost five years of litigation all parties agreed it was time to resolve this matter. Settlement documents filed at a New York federal bankruptcy court stipulate that Hogan, whose given name is Terry Bollea, will get $31 million plus share with other creditors 45 percent of any additional funds that come into the bankruptcy court by virtue of third-party claims brought by Gawker. Said Miami attorney Richard Wolfe: “It sounds to me that Hulk Hogan made a smart deal by getting the right guy to finance his lawsuit.Hulk Hogan will settle all of his litigation with Gawker Media for $31 million with the possibility of more, ABC News has confirmed. In legal circles, attorney James Sammataro of Miami said people speculated how Hogan could afford such a large “dream team” of lawyers. After the National Enquirer published the story, the WWE pro wrestling company severed its ties with Hogan. During the trial, Gawker’s parent company, a collection of websites called Gawker Media, was estimated to be worth $83 million.Įarlier this month, Hogan sued Gawker again, saying the website leaked sealed court documents containing a transcript that quoted him making racist remarks. Gawker is counting on the verdict to be overturned on appeal and has not said whether it can afford the full $140 million. Hogan said Clem betrayed him by secretly videotaping him. Hogan sued Gawker after it posted a 2007 video of him having sex with the wife of his best friend, Tampa radio personality Bubba The Love Sponge Clem. Those derogatory stories could have eroded the fortune Thiel was building in Facebook, where he remains a board member.ĭuring Wednesday’s court proceedings, Gawker’s attorneys asked the judge to allow them to seek evidence from the other side regarding Thiel’s supposed involvement. Others believe Thiel may have been far more upset about Valleywag’s stories mocking Facebook founder Mark Zuckerberg and questioning the social network’s value before it went public in 2012. The attack spurred speculation that Thiel was still angry about a Valleywag report two years earlier about his sexuality. In a 2009 interview, Thiel called Valleywag “the Silicon Valley equivalent of al-Qaida” and said it relies on people who “should be described as terrorists, not as writers or reporters.” Thiel has never hidden his contempt for Valleywag, a gossip site that Gawker periodically ran during the past decade to expose the secrets of Silicon Valley moguls, sometimes in salacious fashion. Multiple media outlets report that tech billionaire Peter Thiel has been secretly funding Hulk Hogan’s lawsuit against Gawker Media for publishing a sex tape. Gawker reacted to the reports by saying: “There are very serious questions about whether Hulk Hogan financially benefited, and this case is far from over.” Hogan’s lawyers wouldn’t comment on the Thiel story but praised the judge for denying a new trial and accused Gawker of refusing to accept responsibility for “their reprehensible behavior and method of doing what they call journalism.” Thiel, whose net worth is estimated by Forbes at $2.7 billion, didn’t immediately respond to interview requests made through email or on the voicemail of a mobile phone number he previously provided to an Associated Press reporter. The news stories cited unidentified sources. Swirling in the background of the court proceedings were reports in The New York Times and Forbes that Thiel is footing Hogan’s legal bills against their common enemy, Gawker. Gawker vows to take the case to an appeals court. On Wednesday, Hogan and Gawker were back in a Florida court, where Judge Pamela Campbell denied Gawker’s request for a new trial and refused to reduce the damages.
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