Terry Bollea, aka Hulk Hogan, will receive $31 million from Gawker in a new settlement agreement:
Thanks to a 570 page liquidation plan filed with the bankruptcy court in the Southern District of New York, it’s now been confirmed that a settlement has been reached that will pay Hogan $31 million and a percentage of the proceeds from the sale of Gawker Media to Univision. From page 41 the filing:
Under the Bollea Settlement, in full and complete settlement, release, and discharge of, and in exchange for, the Bollea Claims, including the $130.0 million Bollea Judgment and the waiver of Bollea’s claims against third parties that would have Debtor Indemnification Obligations, Bollea will receive $31.0 million Cash from Gawker Media, and a Pro Rata share of Distributions from the Gawker Media Contingent Proceeds Creditor Account.
Nick Denton, founder and publisher of Gawker, said he did not want to continue an all-out war with Peter Thiel, the Silicon Valley billionaire who helped back Hogan. A few years ago Gawker outed Thiel, who has since helped others fight against publications that ruin their lives.
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