The legal slapdown that Hulk Hogan delivered to Gawker over publishing a sex tape of him has seen multimillion-dollar awards, bankruptcy for the Nick Denton-founded media outlet, and now a final truce of sorts.
“After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached,” Denton said today in a online statement with “A hard peace” as its title. “The saga is over.”
Back in May, a Florida jury awarded the wrestler $140.1 million, finding that the video Gawker posted showing Hogan (whose real name is Terry Bollea) engaged in an extramarital affair was not newsworthy. The fallout from the Silicon Valley billionaire Peter Thiel-funded action threw Gawker into Chapter 11 this summer. It eventually resulted in Denton’s media ventures, minus Gawker, being purchased by Univision for more than $130 million.
While figures of $31 million were being tossed about in court filings, details of the financial specifics of the new settlement agreement were not made public by Denton directly. More could be revealed in upcoming court appearances later this week. However, we do already know some of the media results: “As the most unpalatable part of the deal, three true stories — about Hulk Hogan, the claim by Shiva Ayyadurai that he invented email, and the feud between the founders of Tinder — are being removed from the web,” said Denton in his statement.
“All parties have agreed it is time to move on,” Hogan’s attorney David Houston said Wednesday in a statement.