A Manhattan federal judge has signed off on a bankruptcy plan for Gawker that includes a $31 million payout to Hulk Hogan. The WWE Hall of Famer is expected to receive the money before the end of 2016.
Gawker was forced into bankruptcy when Hogan tried to collect on a $140 million jury award back in June after Gawker posted video of Hogan having sex with Bubba the Love Sponge’s wife. That award included $60 million for emotional distress, $55 million for economic damages and $25 million in punitive damages.
Gawker attorney Gregg Galardi called the $31 million settlement for Hogan very favorable because it’s just a fraction of the $140 million he was awarded.
For more information, check out the original report at the New York Post.