![]() ![]() A Russian-backed investment fund also put money into the company in January. Once the settlement is approved, the remainder of the $135 million that Univision paid will be released from escrow, and will go to Gawker’s creditors and investors, including as much as $10 million to Denton himself. “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.” The site where they were published,, was not acquired as part of the Univision deal. The most galling part of the settlement wasn’t the cash, but the agreement to remove the stories about Hogan and the other Thiel-backed plaintiffs, Denton said. Thiel “had committed publicly to support Hulk Hogan beyond the appeal,” and showed no signs of ever giving up his pursuit of the company,” he said. However, Denton said in a blog post that the prospect of having to spend significant amounts of money to appeal the decision was not a pleasant one, and that he chose to settle in order to put the affair behind him and achieve some kind of closure for Gawker staff.Īn appeal “would have cost too much, and hurt too many people, and there was no end in sight,” the Gawker founder wrote. ![]() Univision, the Spanish-language broadcaster, acquired most of the company’s assets in August for $135 million, money that was placed in escrow while Gawker appealed the Hogan verdict.Ī number of analysts believed that Gawker stood a good chance of having the Hogan judgment either reversed or significantly reduced, especially since two higher-court judges had already ruled in previous decisions that the publication of an excerpt of Hulk Hogan’s sex tape was newsworthy, and therefore covered by the protection of the First Amendment. The billionaire got his wish when Gawker filed for bankruptcy protection in June, and held an auction of its assets. ![]()
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