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Gawker and Hulk Hogan have settled his sex tape lawsuit payoff for $31 million

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Gawker has settled with Hulk Hogan for $31 million. 

Hogan (real name Terry Bollea) had won a $140 million civil court verdict that bankrupted Gawker. The former pro wrestler claimed the site violated his privacy by publishing his sex tape. His lawsuit was bankrolled by Silicon Valley billionaire Peter Thiel. 

Gawker founder Nick Denton said three Gawker stories about Hogan and two others who also filed suit are being taken offline. 

Gawker was bought by Univision in the aftermath of the lawsuit.

All-out legal war with Thiel would have cost too much, and hurt too many people, and there was no end in sight.
Nick Denton's blog

Denton wrote a blog post explaining how the settlement came about, largely out of fear Thiel's deep pockets would make continued legal battles too costly to continue.  Denton also wrote that all of the journalists who worked for other Gawker sites, like Deadspin, Lifehacker and Jezebel still have jobs under Univision.

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