WWE News: Gawker going bankrupt in Hulk Hogan scandal
Former WWE World Champion Hulk Hogan had filed a lawsuit against the website Gawker in 2012, as they had released a sex tape involving him on the internet. He has mentioned on multiple occasions that the tape was recorded without his knowledge.
Earlier this year, Hogan sued Gawker for $100 million for defamation, loss of privacy, and emotional pain. The court decided to award him with $140 million and Gawker will have to pay this enormous amount.
As reported by wrestlinginc.com, they were back in court this morning to look to settle the dispute with Gawker arguing that they were protected by the First Amendment because the video was newsworthy.
That didn’t work because the judge issued a $140 million final judgment today, in Hogan’s favour. A 4.77% interest rate per year was imposed on the $140 million that is due to Hogan. Ultimately, Gawker had to file for Chapter 11 bankruptcy.
In a recent interview, the former WWE Hall of Famer mentioned that Gawker chose the wrong guy to mess with. A highlight of that interview is provided below :
According to Recode, the media source now attempts to find a new owner and has a "firm bid" from publisher Ziff Davis, who operates IGN, AskMen and PCMag. Apparently, Ziff will be able to buy the company within $100 million.