In Bankruptcy News, celebrity bankruptcies settled a $140 million lawsuit with 1980s professional wrestler Hulk Hogan. Gawker was (it ceased operations in August) a self-described place for “anarchist journalism at its finest.” Most would say it was a web based tabloid, publishing anything and everything that it thought its readers would find interesting, titillating, outrageous or humorous.

Gawker filed bankruptcy in June, 2016, after a jury awarded Hulk Hogan $140 million because Gawker published a video of the Hulkster having sex with his good friend, Bubba “The Love Sponge” Clem’s wife. Bubba apparently shot the video himself. Hogan claimed he didn’t know the encounter was being filmed and that Gawker’s publication of it amounted to an invasion of privacy. Hogan was awarded $130 million against Gawker and $10 million against Gawker’s founder, Nick Denton.

In August, Gawker sites Gizmodo, Deadspin, Jezebel, Kotaku, Lifehacker and Jalopnik were sold through bankruptcy auction to the Spanish cable network, Univision for $135 million. The Hogan lawsuit was reportedly settled for $31 million and removal of the video from the website.

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