Gawker was dealt another blow after a jury awarded Hulk Hogan an additional $25 million in punitive damages against the online media outlet after they posted a sex tape featuring the former WWE wrestler and the wife of his best friend, Bubba the Love Sponge. A Florida jury decided Hogan’s right to privacy was violated when Gawker released the tape on their site.
In total, Gawker now owes Hogan $140 million, and that leaves the website in deep trouble because the company says they are only worth $83 million. Gawker CEO and publisher Nick Denton is worth almost $121 million, according to the Associated Press. Most of that money comes from the parent company that owns Gawker, which is worth $276 million. The person responsible for posting the video also has to pay $100,000, but he owes thousands of dollars in student loans and has no assets.
Gawker isn’t taking this lying down. They plan on appealing the ruling, and legal experts say they have a good chance of turning the situation around.
“There is so much this jury deserved to know and, fortunately, that the appeals court does indeed know. So we are confident we will win this case ultimately based on not only on the law but also on the truth,” a statement released by Gawker read.
According to New York Times, Hogan expressed that he felt “vindicated” by the verdict and hoped it would “deter others from victimizing innocent people.”
“I think we made history today, because I think we protected a lot of people today who may be going through what I went through,” the wrestler told reporters Monday outside of the courthouse. “So we’re very excited, very happy.”
The Times spoke with legal experts who said the initial $115 judgment is likely to be reduced. The outlet also says that according to Florida law, Gawker may have to post a bond of up to $50 million when trying to appeal the verdict.
