![]() Hogan broke down in tears in the courtroom as the foreman read the jury's verdict. Frankly I'm shocked at the $115 million dollar compensatory verdict for showing a video for nine seconds,' said Slaten. ![]() I couldn't even start to speculate on that. Legal experts told Fortune the suit could substantially impact Gawker back when the company was forced to reckon with Hogan's lawsuit when it was just $100million. 'It’s about putting Hogan behind us, and the future ahead of us,' Gawker founder Nick Denton told Fortune. The exact stake was not revealed because of the trial but Nova's managing director Jason Epstein now has a seat on Gawker's board of directors.Ī leaked internal memo showed that Gawker was trying to 'bulk up its war chest' in the days leading up to the defamation lawsuit. In Preparation for the Hulk Hogan trail, Gawker sold a minorty stake in their company to Columbus Nova giving the technology company veto power over Gawker's decisions. The decision will be up to the court's discretion, according to Capital New York. If Gawker cannot afford the bond, then they can still ask the courts to grant a stay or to lower the bond. That gave Gawker an operating profit of $6.5 million in 2014.Īccording to Heavy, Gawker's revenue comes from a combination of traditional advertising and e-commerce. The yearly revenue makes Gawker worth at least $250million, according to Business Insider. Gawker had an annual net worth of $44million in 2014 which is less than the amount they are expected to set aside, according to. The $50million is due about a month from when the punitive damages are decided. Gawker will be expected to pay at least $50million while they appeal the Jury's $115million dollar verdict plus punitive damages to be decided next week.
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