If you happen to be one of the people on Hulk Hogan's Christmas shopping list, your holiday season just got a whole lot brighter. A Manhattan federal judge Tuesday approved a bankruptcy plan for Gawker that includes a $31 million payment to Hulk Hogan, $1.5 million to settle four other lawsuits, and protection for former writers against future legal claims.
The New York Post reported the following:
Hogan forced Gawker into bankruptcy in June when he tried to collect on a $140 million award from a Florida jury after the site posted a video of him having sex with his then-best friend’s wife.
The March invasion-of-privacy verdict included $55 million in economic damages, $60 million for emotional distress and $25 million in punitive damages.
Lawyer Gregg Galardi, who represents the bankrupt Web site, said the $31 million Hogan settlement “was very favorable” because it’s only a fraction of the $140 million award. Hogan is expected to receive the money by the end of the year.
While the video has resulted in a pretty settlement check, it also led to his banishment from the WWE. Hulk Hogan was fired after reports surfaced that the wrestling legend went on a racist N-word-filled tirade in the privately recorded video.
The company issued a statement confirming the release in July of 2015.
"WWE terminated its contract with Terry Bollea (aka Hulk Hogan)," the company said in a statement Friday morning. "WWE is committed to embracing and celebrating individuals from all backgrounds as demonstrated by the diversity of our employees, performers and fans worldwide."
Are you ready to see Hogan back in the WWE?
And if you happen to be Hulk Hogan reading this, can I have a million dollars? Thanks!
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