-

Gawker sells minority stake of company due to upcoming Hulk Hogan lawsuit

Gawker Media, the company facing the $100 million lawsuit by Hulk Hogan over the leaked sex tape, has sold a minority stake of its company to Columbus Nova Technology Partners, an investment company.

This is the first time that Gawker has allowed outside investment and it’s because of the Hogan lawsuit. Gawker’s chief Nick Denton has said in the past that should the company lose its lawsuit and the jury awards Hogan the $100 million, the company would simply cease to exist as they do not have that amount of money. According to the Wall Street Journal, Gawker made only $6.5 million in profit in 2014.

The trial between Hogan and Gawker is set to start on March 7.


Discover more from Wrestling-Online.com

Subscribe to get the latest posts sent to your email.

Colin Vassallo
Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

Ryan Nemeth sues AEW, Tony Khan, and CM Punk alleging assault and breach of contract

Former AEW star Ryan Nemeth has filed a lawsuit against AEW, its president Tony Khan, and Phil Brooks, better...

Miro returns to the ring in Doha, Qatar

Miro got back in the squared circle yesterday, wrestling his first match in over 13 months at the Qatar...

“Speedball” Mike Bailey coming to AEW

"Speedball" Mike Bailey is coming to All Elite Wrestling. On Collision last night, a vignette aired hyping up Bailey's upcoming...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading