Monday, March 21, 2016

Gawker: Nick Denton's Is Not As Big As He'd Have You Believe

Net worth.
That should read Nick Denton's net worth is not as big as he'd have you believe.

From Women's Wear Daily:
Gawker Asks for Leniency as Jury Deliberates Adding to $115M Judgment in Hulk Hogan Sex Tape Trial
Attorneys for Gawker Media asked a jury to show mercy when deciding on the amount of punitive damages to award to Terry Bollea, aka Hulk Hogan, after it already awarded him $115 million on Friday.

The argument, which was made Monday morning before a St. Petersburg, Fla.-based jury, was related to the value of Gawker Media.

The defense said the company and all of its assets amounts to $83 million, and that last year, it earned gross revenue of $48.7 million.

“Additional punishment is unnecessary,” Gawker’s lawyer Michael Berry told the jury. “The amount you have rendered in your verdict is already far beyond their means.”

The lawyer said awarding more to Bollea would be “financially devastating” to Gawker founder Nick Denton and that for former editor A.J. Daulerio it means “financial ruin.” Berry estimated Denton’s net worth is around $121 million; Daulerio has nothing but $27,000 in student debt.

Jurors could award up to three times the amount it awarded Bollea on Friday, near half a billion dollars....MORE