Judge says $140 million Gawker payment to Hulk Hogan will stand

Gawker Media

Gawker Media was told in a Florida court on Wednesday that its motion for a new trial has been denied. That means the $140 million in damages awarded to Hulk Hogan will not be reduced.

Gawker can still appeal the ruling to Florida’s Second District Court of Appeals. The media company is confident it will succeed, according to Capital New York.

The original jury verdict was awarded after the court found that Terry Bollea — aka pro wrestler Hulk Hogan — was the victim of invasion-of-privacy.

During the court hearing, state court judge Pamela Campbell rejected a motion by Gakwer to reverse or reduce the verdict.

Gawker may now be required to post a $50 million bond under Florida law.

The lawsuit began after Gawker editor A.J. Daulerio posted a news article in 2012 which included footage from a private sex tape starring Hulk Hogan.

It was reported on Tuesday that Silicon Valley investor and billionaire Peter Thiel is allegedly funding Hogan’s lawsuit against Gawker.

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Nick Denton’s media empire will appeal the decision.

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at OnlineDegree.com.