Judge Issues Final Judgment in Hulk Hogan vs Gawker Case, Gawker Reportedly Files For Bankruptcy

According to Recode.com, Gawker was back in court today and a judge issued a $140 million final judgment in favor of Hulk Hogan. The verdict in the Gawker case was upheld, and furthermore a permanent injunction was issued earlier this week which prohibited Gawker from posting Hogan’s sex tape video. Additionally, a 4.77% interest rate per year was imposed on the $140 million which is owed to Hogan.

As a result of the past two key decisions in the Hogan vs Gawker case, Gawker Media has filed for Chapter 11 bankruptcy and plans to find a new owner for the company. The Recode article notes Gawker has a “firm bid” from publisher Ziff Davis to buy the company for under $100 million. Ziff Davis operates IGN, AskMen and PCMag.