Hulk Hogan’s Leaked Sex Tape Could Cost Gawker $100 Million
According to Capital New York and Business Insider, the leaked Hulk Hogan sex tape, published by Gawker Media back in 2012, could end up costing the company $100 million, which would force company founder Nick Denton to either sell Gawker or seek new investors to help cover damage costs.
Denton says a lawsuit costing him his company is “unlikely but possible”, and he also noted the following in a meeting with the Gawker staff earlier this month:
“I have way, way less money than people think! … I don’t have hundreds of millions of dollars to kind of bail the company out. If we are in an environment with higher business risk and higher legal risk, then the company is going to need somebody with deeper pockets and hopefully principles in order to keep it both commercially viable and editorially viable.”
For those unaware, Gawker published clips of a leaked sex tape featuring Hogan and Heather Clem (then wife of his friend Bubba the Love Sponge), resulting in Hogan suing Gawker later that year.
In addition to Capital New York and Business Insider, The Hollywood Reporter has published an article covering the sex tape subject, and it explains why Hogan is likely to lose the suit against Gawker.
MITB on Canvas 2 Canvas
The following is the latest edition of Canvas 2 Canvas:
Nick was born and raised in Detroit, Michigan, and lived there until the age of 18, when he decided to pack his flack jacket and move to New York City.
