Shuttered irreverent news website Gawker Media LLC has reached a $31 million cash settlement with Hulk Hogan, the former professional wrestler who won a $140 million judgment against the site over a leaked sex tape, Reuters reported yesterday. Hogan's judgment forced Gawker into bankruptcy in June. Its sister websites, including sports site Deadspin and women's site Jezebel, were acquired for $135 million by media company Univision Holdings Inc in a bankruptcy auction last summer. The settlement is subject to approval by a bankruptcy judge. Silicon Valley billionaire Peter Thiel said in May that he helped fund the invasion of the privacy lawsuit filed by Hogan, whose real name is Terry Bollea. The site published an article in 2007 about Thiel's homosexuality.
