![]() ![]() News of the bankruptcy filing indicating Thiel wouldn’t be buying Gawker was first reported by The Wall Street Journal. Earlier this year, a bankruptcy judge ruled that Thiel and Charles Harder’s law firm had to comply with demands for information about the funding of several lawsuits, including the Hogan case involving the publication of a sex tape excerpt. In return, the Gawker administrator has agreed to terminate its own investigation of Thiel and will be withdrawing subpoenas issued for the intention of discovery. Thiel will be releasing any claims against Gawker as well. On Wednesday, the administrator of Gawker’s estate sought approval of an order approving a release with Thiel, who co-founded PayPal and was one of the first investors in Facebook.Īccording to the filing, it was believed that Thiel’s participation in the auction could have a “chilling effect” on bidding and that the auction would “elicit greater interest and higher bids” without Thiel’s participation.Īs part of the settlement agreement, Thiel not only agrees to stay away from buying Gawker, but also won’t participate in any legal action over the website’s archives. Prince Andrew, Queen Elizabeth’s wanker embarrassment of a second son, has reached a settlement with Virginia Giuffre, the woman suing him for sexual abuse when she was a teenager. ![]() The settlement will require the bankruptcy judge’s approval.ĭavid Houston, Hogan’s lawyer, commented, “As with any negotiation for resolution, all parties have agreed it is time to move on.When Will the Strikes End? Lessons From 1960 It’s said in the bankruptcy papers that ” baseline benefit is higher than the alternative of fully litigating the disputes resolved under the Plan Settlements.” The parties are due in court Thursday and are expected to discuss the settlement, which calls for Ayyadurai to get $750,000 and journalist Ashley Terrill to get $500,000 to settle their own lawsuits. recovered in settlement or through collection of a damages award. But all-out legal war with Thiel would have cost too much, and hurt too many people, and there was no end in sight.” Gawker has appealed the ruling, and in an apparent effort to avoid paying Bollea. In a statement titled “A Hard Peace,” Denton writes, “Yes, we were confident the appeals court would reduce or eliminate the runaway Florida judgment against Gawker, the writer of the Hogan story and myself personally…. Gawker was eyeing a possible lawsuit against Thiel. As part of the settlement agreement, Thiel not only agrees to stay away from buying Gawker, but also won’t participate in any legal action over the website’s archives. In bankruptcy court, the parties were prepared to argue about distribution of the Univision proceeds as well as next steps. At a recent press conference, Thiel explained that he found Gawker’s reporting to be distasteful and commented, “If you’re a single-digit millionaire like Hulk Hogan, you have no effective access to our legal system. Thiel was outed as gay by one of Gawker’s old tech publications, but he denied that his funding was the result of a grudge. Many were represented by Hollywood attorney Charles Harder. The PayPal co-founder reportedly contributed money not only to Hogan, but also to others like purported email inventor Shiva Ayyadurai to sue Gawker. Meanwhile, the revelation that Silicon Valley billionaire Peter Thiel had secretly provided financial backing to Hogan created another explosive turn. In a blog post this afternoon, Gawker Media founder Nick Denton announced that the media company would pay Hulk Hogan 31 million to settle an invasion of privacy lawsuit.The news comes less than. In July, Gawker declared Chapter 11 bankruptcy, and some of the company’s blogs - but not its flagship - were sold to Univision for $135 million after an auction. Gawker expressed its hope that its First Amendment arguments would lead to a different outcome on appeal, but the verdict created financial pressures on the company. ![]() The trial judge later upheld the verdict. He was awarded $140 million in compensatory and punitive damages from Gawker, Denton and Daulerio. The former professional wrestler born Terry Bollea then refiled in Florida state court, bringing privacy claims against not just Gawker, but also his partner in the video, Heather Cole, the then-wife of his best friend, Tampa-area radio shock jock Bubba the Love Sponge.Īfter nearly four years of litigation, which included ample discovery, an FBI investigation into whether Hogan was extorted, and more sex tape leaks showing that Hogan had made racist comments during bedroom banter, the case went to trial in March. Hogan initially sued in federal court with a copyright claim, but couldn’t get a temporary restraining order that removed the video from the website. When Will the Strikes End? Lessons From 1960 ![]()
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