Hulk Hogan trial has Gawker Media seeking funding and finding it with Columbus Nova Technology Partners
The online media company Gawker Media today said it had sold a minority stake in the company, the funds of which will be used to bolster the company as the Hulk Hogan trial approaches.
That trial beings in March and originates from a Gawker post of a sex tape clip involving Hogan and the estranged wife of radio personality Bubba the Love Sponge. Hogan, whose actual name is Terry Gene Bollea, is seeking $100 million in damages.
The New York Times reported on Wednesday that Columbus Nova Technology Partners will be the one investing in Gawker Media, saying they like the company’s approach to storytelling (really).
There were no details about how much of the company founder Nick Denton had to sell off, but both the NYT and International Business Times, which first broke the story, say “minority stake” when describing the investment.
Gawker.com has moved away from celebrity and media news to cover politics. A wise move, as politicians are, after all, public figures. Meanwhile, the company’s more popular website among its blogs remains Gizmodo, which covers tech.