It’s precisely because I respect journalists that I do not believe they are endangered by fighting back against Gawker. “I think much more highly of journalists than that. “I refuse to believe that journalism means massive privacy violations,” he said. He saw no contradiction between his litigation funding and his donations to the Committee to Protect Journalists. Thiel, a co-founder of PayPal, had been the subject of a 2007 article by a Gawker blog titled, “Peter Thiel is totally gay, people.” He said he was not the only person who had been bullied by Gawker articles. Observers thought it unusual that Bollea wasn’t trying to collect from a deep-pocketed insurer. ![]() Speculation arose that the case had been financed after lawyers for Hulk Hogan-whose real name is Terry Gene Bollea-excluded a claim that would have allowed Gawker’s insurance company to help defend the case and pay damages, according to the DealBook story. While the personalities and motives at play in the Gawker case are unique, the lack of transparency isn’t.” req.), Thiel’s involvement in financing the case provides “a window into the largely self-regulated and growing world of litigation funding. Thiel said he also sought other cases that he could fund.Ī Florida judge on Wednesday refused to disturb a $140 million verdict against Gawker for publishing a sex tape of Hogan, report the Hollywood Reporter and a separate New York Times article.Īccording to the Recorder (sub. The financial backing, Thiel says, is “one of my greater philanthropic things that I’ve done.” ![]() Peter Thiel tells the New York Times DealBook blog that he paid lawyers to find people who had been harmed by Gawker news stories and financed at least two current cases against the gossip website. Image of Hulk Hogan by s_bukley / .Ī former lawyer who became a Silicon Valley entrepreneur acknowledges he paid roughly $10 million to finance Hulk Hogan’s winning lawsuit against Gawker and says it’s not the only case he has financed. If you would like to schedule a meeting to discuss the IP valuation services, litigation services, or CLE presentations that CONSOR can provide, contact Weston Anson. CONSOR Intellectual Asset Management was founded over 25 years ago, and has been a global industry leader in intellectual property valuation, expert witness services, monetization assistance, licensing strategies and more. The valuation is based on proven techniques and sound analytics, which the CONSOR team brings to every project – from Right of Publicity to complex patent portfolios.ĬONSOR has been successful in more than 90% of the cases in which they are the testifying expert. Gawker’s website increased in value by approximately $15 million from publishing the Hulk Hogan sex tape. As IP valuation experts, CONSOR was asked to provide an opinion and quantify the benefit to Gawker, as measured by the increase in value of the website that resulted from Gawker posting the sex tape. Jeff Anderson, CONSOR Director of Valuation and Analytics, took the stand and testified in front of the jury.īy generating significant traffic to their website, Gawker benefited by posting the sex tape. CONSOR was retained by Bollea’s legal team to provide expert consulting services. ![]() Gawker commenced in Florida, with Bollea seeking monetary relief. In March 2016, more than three years later, the trial of Terry Bollea v. Thus, Gawker benefitted from the use of the Hulk Hogan brand and other intellectual property. Despite demands from Bollea’s attorney that the sex tape be removed, Gawker refused. On October 4, 2012, Gawker posted a one minute and forty-one second video depicting Terry Bollea, professionally known as Hulk Hogan, engaged in private consensual sexual relations. The jury eventually awarded CONSOR’s client Terry Bollea (aka Hulk Hogan) $115 million in compensatory damages, and $25 million in punitive damages, for a total of $140 million. Jeff Anderson, Director of Valuation and Analytics, proved that Gawker benefited from posting the Hulk Hogan sex tape, during the Florida civil jury trial in March, 2016.
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