The US news and gossip site has paid the price for losing a £106 million privacy lawsuit over a sex tape involving the former pro wrestler.
Gawker media files for bankruptcy after losing multi-million dollar privacy lawsuit involving former professional wrestler Hulk Hogan.
Wrestler Hulk Hogan was awarded further punitive damages totalling $25 million in a lawsuit over a sex tape posted online by celebrity news outlet Gawker.
A Florida jury ruled on Monday that further damages should be awarded to the Hogan, real name Terry Bollea, after he was awarded $115 million in damages last week.
The six-person jury assessed Gawker $15 million in punitive damages. The media company's publisher and CEO, Nick Denton, was slapped with an additional $10 million.
Hogan, 62, sued the website for posting a video clip in 2012 featuring him having sex with the wife of his then-best friend, the radio shock jock Bubba the Love Sponge Clem.
"I think we made history today, because I think we protected a lot of people today who may be going through what I went through," Hogan told reporters on Monday.
American wrestler and TV personality Hulk Hogan has been duped by pranksters on Twitter posting messages of support as famous footballers
Toronto's mayor Rob Ford has won an arm wrestling competition against veteran wrestler Hulk Hogan today.
After entering to the track Eye Of The Tiger, the "number one Hulkmaniac", as Hogan calls him emerged victorious against his idol.
The stunt took place at the Fan Expo Canada, a convention celebrating diverse pop culture genres.
Hulk Hogan tweeted after the duel: "Just arm wrestled Mayor Ford from Toronto, had a great time brother".
Ford responded that he had a "great time meeting" Hogan, adding that he has been "a big fan for along time".