November 3, 2016

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Hulk Hogan has settled with Gawker Media for $31 million over the site’s publication his sex tape; the company was appealing the $140 million a jury awarded Hogan earlier this year. “The saga is over,” Gawker founder Nick Denton says.

“Hulk Hogan’s retirement will be comfortable.” Hogan’s invasion of privacy lawsuit against Gawker was funded by billionaire Peter Thiel, in an attempt to bankrupt the company that once outed him as gay.

Denton says it would have cost too much to continue fighting an “all-out legal war” against him. “It’s a shame the Hogan trial took place without the motives of the plaintiff’s backer being known,” Denton wrote.

“As with any negotiation for resolution, all parties have agreed it is time to move on,” Hogan’s attorney said yesterday. Univision won an auction in August for Gawker Media and chose to shut down operations for the controversial namesake website, Gawker.com.