Gawker Sells Share to Pay for Hulk Hogan Case

GULP

Updated Apr. 13, 2017 6:04PM EDT / Published Jan. 20, 2016 2:53PM EST

Gawker Media has reportedly sold a minority stake of its company to an investment company in order to keep financing its lawsuit brought against them by Hulk Hogan, as well as a need for funding future growth, according to founder Nick Denton. The company is Columbus Nova Technology Partners and its managing editor will have a seat at Gawker's board after the buy. Hogan's trial is set to begin in March and he is asking for $100 million in damages after Gawker posted a leaked surveillance tape of him having sex with the wife of his friend.

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Gawker Sells Share to Pay for Hulk Hogan Case