He did pen a blog post that went live shortly after the settlement was announced. In Wednesday’s filings, Gawker’s lawyers noted that “although the parties have not reached a final settlement agreement, the Debtors are hopeful that a settlement agreement with Denton will be part of the Confirmation Hearing.”ĭenton declined to comment on Wednesday and referred FORBES to a spokesperson. Daulerio, the author of the sex tape story, have yet to work out their own settlements agreements with Hogan. The other named defendants in the Hogan case, Gawker founder Denton and ex-Gawker editor A.J. " I don’t think anyone should ever profit from suing over true stories.” “I stand by my work 100% and it makes me feel really sick and furious knowing how this is going to end,” he said, adding that he had no role in the settlement discussions. Both articles will be removed from Gawker's archives. In 2012, Biddle wrote a story questioning Ayyadurai’s claim that he had invented email, and last year, the former Gawker employee published a piece involving Terrill and her alleged role in a dispute between the cofounders of popular dating app, Tinder.
Sam Biddle, the author of the stories on Ayyadurai and Terrill, said he felt “awful” with regards to the terms of the settlement. The estate of Gawker Media will also set aside about $3 million in case of any future claims. Also, if is sold at any point in the future, the three individuals will also split 45% of any proceeds from that sale. Ayyadurai, who was originally seeking $35 million in his defamation suit, will receive $750,000, while Terrill, who was seeking $10 million, will get $500,000. With the settlement, Hogan is taking home a little more than a fifth of what he was awarded by a Florida jury, after refusing to settle in his original lawsuit against Gawker. Many legal and media experts believe Hogan would have been left with far less had the case been decided on appeal. The decision to reduce the $140 million award to $31 million was a voluntary agreement among the parties involved. Two sources close to the case said on Wednesday that any potential lawsuit against Thiel is effectively dead given the settlement.
"It is a great day for Terry Bollea and a great day for everyone's right to privacy," Thiel, a prominent venture capitalist and Facebook board member, said in a statement.Įarlier this month, Gawker's lawyers filed a motion for discovery to examine Thiel's connection to Harder and explore a lawsuit against the billionaire over his involvement. On Wednesday, he celebrated the settlement. Gawker’s nemesis was not going away.”Įarlier this week, Thiel, whose involvement in the case was secret until FORBES revealed that he had been funding Hogan’s defense, stood behind his involvement in the case in an interview at The National Press Club and said that “single-digit millionaires” do not have the resources to pursue claims in the American legal system. “But all-out legal war with Thiel would have cost too much, and hurt too many people, and there was no end in sight. “ Yes, we were confident the appeals court would reduce or eliminate the runaway Florida judgment against Gawker, the writer of the Hogan story and myself personally,” Gawker Media founder Nick Denton wrote in a blog post in response to the settlement. Late Tuesday, an agenda filed in federal bankruptcy court in Manhattan noted that Gawker’s estate had discussed “various resolutions” with members of a committee of unsecured creditors-the largest of whom is Hogan-and that it had reached a settlement “with certain creditors.” Multiple sources familiar with the negotiations told FORBES prior to the settlement’s revealing that the basic framework of a deal had been reached earlier this week. Stories published about Hogan, Ayyadurai and Terrill will also be removed on. As part of Wednesday’s deal, two of Harder’s other clients, Shiva Ayyadurai and Ashley Terrill, who sued the media outlet for defamation, will also get a combined $1.25 million. Hogan’s case was led by Hollywood lawyer Charles Harder, who was paid by Thiel and who has brought multiple other lawsuits against Gawker.
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