Advertisement

  1. ITV Report

Gawker.com shuts down after Hulk Hogan lawsuit bankruptcy

Gawker founder Nick Denton lost the lawsuit involving Terry Bollea, better known as Hulk Hogan. Credit: Reuters

US news and gossip website Gawker.com will shut down after 14 years as its publisher pays the price for losing a $140 million (£106 million) lawsuit involving former pro wrestler Hulk Hogan.

Gawker Media sought bankruptcy in June after the judgment in an invasion of privacy lawsuit over its publishing of excerpts from a sex tape involving Hogan.

Gawker.com had published a one-minute, 41-second edited video in 2012 featuring Hogan having sex with the wife of his then-best friend, radio "shock jock" Bubba the Love Sponge.

Hogan, whose real name is Terry Bollea, tweeted in response to news of Gawker.com's demise.

The decision to shut down Gawker.com comes two days after Univision won the bankruptcy auction to acquire Gawker Media for $135 million (£102 million).

Univision's winning bid for Gawker Media was approved by a US bankruptcy judge earlier on Thursday.

$140m
The cost to Gawker Media of the lawsuit involving former pro wrestler Hulk Hogan.
$135m
The winning bid in the bankruptcy auction to acquire Gawker Media.

Hogan's lawsuit was bankrolled by billionaire investor Peter Thiel.

Gawker.com, which became well known for its snarky celebrity and media industry gossip, had published an article about Thiel's homosexuality in 2007.

In a memo sent to staff on Thursday, Gawker Media Founder Nick Denton said the company was not able to find "a single media company or investor willing also to take on Gawker.com" as a result of the "campaign being mounted against its editorial ethos and former writers."

Denton filed for personal bankruptcy this month to also seek protection from the judgment.