According to the New York Post, Hulk Hogan will finally be receiving his settlement from the sex tape-related lawsuit against Gawker. A Manhattan judge reportedly approved a bankruptcy plan for Gawker that includes a $31 million payout to The Hulkster before the end of the year.
Hogan’s lawsuit forced the publisher into bankruptcy trying to collect the $140 million he was granted by a jury, after Gawker posted a video of Hogan having sex with Bubba The Love Sponge’s ex-wife. The lawsuit included damages related to Hogan losing his job with WWE due to racist remarks in the tape’s transcript.
Gawker’s lawyer told the Post that the $31 million settlement was “very favorable” for Gawker because it’s only a fraction of the $140 million awarded. Earlier in 2016 it was reported that the lawsuit had reportedly cost Hogan and his financial backer Peter Thiel approximately $10 million.
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