The NY Post reports that a Manhattan federal has approved a bankruptcy plan for Gawker that includes a $31 million payout to WWE Hall of Famer Hulk Hogan.
Hogan previously forced the website into bankruptcy when trying to collect on a $140 million award from a Florida jury in June after they posted video of Hogan having sex with the wife of then-best friend Bubba the Love Sponge. The verdict included $55 million in economic damages, $60 million for emotional distress and $25?million in punitive damages.
Gawker’s lawyer Gregg Galardi called the $31 million settlement for Hogan “very favorable” because it’s only a fraction of the $140 million that was awarded.
Hogan is expected to receive the money by the end of this year.
