Later that month, however, new light was shed on Hogan's litigious attitude toward Gawker, when PayPal co-founder Peter Thiel confirmed that he'd bankrolled the invasion of privacy lawsuit. Gawker released a statement at that time in response, calling the lawsuit "ridiculous" and denied it had leaked the transcript. As a result of the publication, Hogan was fired by his employer, the World Wrestling Entertainment, he claimed. Hogan claimed in the lawsuit that in 2015, the National Enquirer published a transcript from a 2007 video in which he used a racial slur, and that the information was at least in part furnished by Gawker. In May, Hogan sued Gawker again, this time for intentional infliction of emotional distress, accusing the company of "leaking a sealed transcript of surreptitiously recorded private oral communications in a bedroom to the media," court documents state.
In a blog post on the settlement, Nick Denton, the founder of Gawker Media, wrote: "After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached. We would like to thank everyone involved in the process." As in any case involving negotiation all parties give-and-take.
This will allow people to go about their lives and concentrate on things more important than continued court proceedings.
Hogan's camp said in a statement: "After almost five years of litigation all parties agreed it was time to resolve this matter.
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Settlement documents filed at a New York federal bankruptcy court stipulate that Hogan, whose given name is Terry Bollea, will get $31 million plus share with other creditors 45 percent of any additional funds that come into the bankruptcy court by virtue of third-party claims brought by Gawker. - Hulk Hogan will settle all of his litigation with Gawker Media for $31 million with the possibility of more, ABC News has confirmed.