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Hogan reaches $US31m Gawker settlement - 3rd November
2016
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Gawker has reached a $US31 million ($A40
million) cash settlement with Hulk Hogan, the former
professional wrestler who won a $US140 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 $US135 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 lawyer,
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.
'It is a great day for Terry Bollea and a great day
for everyone's right to privacy,' Thiel said.
Gawker founder Nick Denton, who filed for personal
bankruptcy to protect himself from Hogan's judgment,
has accused Thiel of using his wealth to carry out
a vendetta against him and the site.
Denton, in a blog post published on Wednesday, said
an 'all-out legal war with Thiel would have cost too
much, and hurt too many people,' even though he was
confident a court would have reduced or eliminated
the judgment.
'There was no end in sight,' Denton wrote.
The settlement also calls for Hogan to receive some
proceeds from a possible future sale of Gawker.com,
which was not included in the sale to Univision.
(AAP)
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