FILE - In this May 25, 2016 file photo, Hulk Hogan, whose real name is Terry Bollea, appears in court in St. Petersburg, Fla. The shell of Gawker has settled with Hulk Hogan for $31 million, ending a years-long fight that led to the media company’s bankruptcy, the shutdown of Gawker.com and the sale of Gawker’s other sites to Spanish-language broadcaster Univision. Gawker founder Nick Denton in a Wednesday, Nov. 2 blog post said that the “saga is over.” Denton filed for personal bankruptcy because of the $140 million verdict won by the former professional wrestler in a Florida court over a sex tape.(Scott Keeler/The Tampa Bay Times via AP, Pool)Associated Press

Hulk Hogan, Gawker Reach Settlement: Latest Details, Comments and Reaction

Timothy RappNov 2, 2016

Hulk Hogan and Gawker Media have reached a settlement that will pay Hogan $31 million, court filings revealed, according to Brian Stelter of CNN.

Hogan, 63, sued Gawker in 2012, asserting the website violated his privacy after it released a sex tape involving the former wrestler. A Florida jury awarded Hogan $140 million in damages, which forced Gawker Media into bankruptcy and eventually led to the company's assets being sold to Univision.

"After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached," Gawker founder Nick Denton wrote on his blog. "The saga is over."

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He added: "Hogan's retirement will be comfortable."

The billionaire in question is Peter Thiel, a co-founder of Paypal and an investor in Facebook who "contributed financial support to [Hogan's] case," as Thiel wrote in the New York Times in August 2016. Gawker outed Thiel as being gay in 2007, the grudge Denton alluded to in his blog post.

Denton maintained that he felt Gawker would have won on appeal, but an "all-out legal war with Thiel would have cost too much, and hurt too many people, and there was no end in sight."

Hogan's camp agreed.

"As with any negotiation for resolution, all parties have agreed it is time to move on," Hogan's lawyer, David Houston, said in a statement, per Sydney Ember of the New York Times.

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