Gawker was back in court today, having appealed the initial judgment that ruled in favor of Hulk Hogan. According to Recode.com, a judge has issued a $140 million final judgment in favor of Terry Bollea. Not only was the verdict upheld, but a permanent injunction was issued earlier this week which prohibits Gawker from posting Hogan’s sex tape. A 4.77% annual interest rate was also imposed on the the $140 million owed to Hogan.
As a result of this case, Gawker Media has filed for Chapter 11 bankruptcy and plans to find a new owner. Publisher Ziff Davis has placed a firm bid to buy the company for less than $100 million.
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