![]() ![]() And Denton's net worth minus his stake in the company is only $3.6 million, his lawyer said.Ī third party in the case, former Gawker editor A.J. Daulerio, is in debt to the tune of thousands of dollars due to student loans, the jury was told. Denton, by extension, is estimated to be worth as much as $121 million.īut GMGI was not a party to the case. That entity, which owns Gawker's intellectual property, is estimated to be worth $276 million. Hogan's lawyers, however, argued that Gawker and its founder, Nick Denton, have plenty of money via Gawker Media's parent company, an entity known as GMGI. "The verdict already rendered will be financial devastating" to the company, he said of the $115 million in economic damages awarded to Hogan last week. "$115 million is punishment enough," Gawker's attorney, Michael Berry, told the jury as it weighed punitive damages Monday. It is estimated to be valued at $83 million - total. ![]() The privately held company has released financial data showing that Gawker Media earned $6.53 million in operating income in 2014 on revenue of $44.3 million. Jury awards Hulk Hogan $115M in Gawker sex tape suitįailure to convince the lower court judge to reduce the award followed by a loss in appeal could put Gawker in a tough spot financially, however. "They will look at the size of that award, which is quite honestly a whopper, and what they are going to say is, 'Your honor, there is no way he (Bollea) can prove these are the actual damages,' " said Lucy Dalglish, a lawyer who has tried media cases and who is now dean of the journalism school at the University of Maryland. It is also expected to appeal the case and seek to have the verdict - and monetary damages that go with it - overturned. For starters, the company is expected to ask the judge to reduce the overall award, a process known as remittitur, that allows judges to reduce a verdict if it is determined excessive. ![]()
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