It looks like Gawker publisher Nick Denton is down for the count in his legal battle against Hulk Hogan. Today a Florida judge issued a $140 million final judgement in favor of Hogan, and Gawker Media has officially filed for Chapter 11 Bankruptcy. There’s a 4.77% interest rate per year on the $140 million that Gawker now owes Hogan.
Gawker was trying to get a judge to postpone the $140 million awarded to Hogan but had no luck. Hogan began his lawsuit against the company in 2012 after they published portions of a sex tape that was recorded without his knowledge. Gawker argued that they were protected under the 1st Ammendment because they felt the video was newsworthy.
According to a report by Recode.net, Gawker is trying to sell the company to publishing company Ziff Davis. Ziff Davis owns IGN, AskMen, PC Mag and others.
Hogan has indicated that he’s trying to get his WWE job back after the lawsuit cleared his name of filming and distributing the tape.
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