Hogan sued Gawker after they released sex tapes that included himself and Bubba The Love Sponge’s then-wife Heather Clem. The case went to trial, and the jury awarded Hogan $115 million in damages. Hogan was awarded an additional $25 million for punitive damages. Gawker owing Hogan $15 million, Gawker website owner Nick Denton owing $10 million, and former Gawker editor A.J. Daulerio owing $100,000.
The judge issued a $140 million final judgment in favor of Hogan. This has led to Gawker Media filing for Chapter 11 bankruptcy. Gawker plans to find a new owner for the company and has a “firm bid” from Ziff Davis to buy the company for under $100 million, according to Recode.