The long-running lawsuit by Hulk Hogan against Gawker Media will not be headed to an appeal, as the former media conglomerate, which was driven into bankruptcy and forced to sell their assets to Univision a few months ago, has reportedly reached a settlement agreement with the WWE Hall of Famer.
Earlier in 2016, a jury awarded Hogan $140 million in damages, determining that Gawker had acted improperly by posting portions of Hogan’s sex tape without permission, including audio of Hogan making racially insensitive remarks which cost him his contract with WWE. Gawker had originally intended to appeal, but legal restrictions made it financially difficult. In addition, the revelation that Hogan was being bankrolled by billionaire Peter Thiel, who had a public vendetta against Gawker Media ever since they publicly revealed his sexual orientation without his consent, made it apparent that even if Gawker could win an appeal against Hogan, multiple lawsuits from other sources also being supported by Thiel would have slowly bankrupted the company anyway.
According to the reported terms of the settlement, Hogan will receive $31 million dollars, as well as a percentage of the $135 million Gawker received when they sold their assets to Univision.