![]() ![]() ![]() “It’s less about revenge and more about specific deterrence,” he told the newspaper. Thiel, the subject of a 2007 article on the Gawker-owned website Valleywag entitled, "Peter Thiel Is Totally Gay, People," told The New York Times that he wanted to protect those whom he felt had been unfairly targeted by Gawker. Later that month, however, new light was shed on Hogan's litigious attitude toward Gawker, when PayPal co-founder Peter Thiel confirmed that he'd bankrolled the invasion of privacy lawsuit. Gawker released a statement at that time in response, calling the lawsuit "ridiculous" and denied it had leaked the transcript. As a result of the publication, Hogan was fired by his employer, the World Wrestling Entertainment, he claimed. Hogan claimed in the lawsuit that in 2015, the National Enquirer published a transcript from a 2007 video in which he used a racial slur, and that the information was at least in part furnished by Gawker. In May, Hogan sued Gawker again, this time for intentional infliction of emotional distress, accusing the company of "leaking a sealed transcript of surreptitiously recorded private oral communications in a bedroom to the media," court documents state. 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. ![]() "Gawker Media Group is putting its properties up for sale after a coordinated barrage of lawsuits intended to put the company out of business and deter its writers from offering critical coverage.— - Hulk Hogan will settle all of his litigation with Gawker Media for $31 million with the possibility of more, ABC News has confirmed. "The sale and filing are intended to preserve the value of GMG's pioneering digital news business, safeguard the jobs of journalists and other staff, and allow GMG to fund the appeal against the $130 million judgment in the Hulk Hogan case," the company said in a statement. Read More from CNBC: Billionaire Peter Thiel Financed Hulk Hogan's Lawsuit Against Gawker Years earlier, a Gawker publication outed Thiel as gay. Late last month, it was revealed that tech billionaire Peter Thiel helped to bankroll Bollea's legal costs. The jury later added $25 million in punitive damages. The filing came about three months weeks after a Florida jury slapped Gawker with a $115 million judgment in an invasion of privacy lawsuit by wrestler Hulk Hogan, whose real name is Terry Bollea, for publishing a tape showing him having sex with the wife of a friend. ![]()
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