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Let's not forget that Gawker monied up ahead of the trial, too. In a January 2016 staff memo, Gawker CEO Nick Denton described an investment by Columbus Nova (c

by GCA10 10y ago

Let's not forget that Gawker monied up ahead of the trial, too. In a January 2016 staff memo, Gawker CEO Nick Denton described an investment by Columbus Nova (controlled by Russian oligarch Viktor Vekselburg) as a way to make sure his company had the resources for a full-stakes court battle. The judge in the case had recommended mediation, but both sides really wanted a big trial. So they got one.

bduerst 10y ago
Was Nova involved in the court case, or have a personal vendetta against Hogan?
internaut 10y ago
Interesting. Can you provide sources and also what do you think the end game is? Did Nick Denton know he was going to lose and go ahead anyway? Or was he just unable to conceive of losing?
- GCA10 10y ago
  Glad to oblige on sources. Here's a copy of Nick Denton's memo announcing the investment and its relevance to the Hogan litigation: http://jimromenesko.com/2016/01/20/gawker-takes-outside-money-for-the-first-time/ http://jimromenesko.com/2016/01/20/gawker-takes-outside-mone... And here's a Fortune story with a little more background on the investors: http://fortune.com/2016/01/20/gawker-funding/ http://fortune.com/2016/01/20/gawker-funding/ On the "endgame" question, it's worth noting that Gawker's new backer is one of the world's 100 richest people, with an estimated $9.8 billion net worth, according to Forbes. Thiel checks in at just $2 billion or so. If both billionaires want to keep battling, this case could rattle around in a lot of different courts for a long time. We may not know yet who ultimately wins/loses.
  - internaut 10y ago
    This may be one of the worse decisions I've seen in my lifetime. Does Denton not understand the high level ramifications of his decision? Has he any sense of self perseveration not blottoed by cocaine? He is now directly under the watchful eyes. > On the "endgame" question, it's worth noting that Gawker's new backer is one of the world's 100 richest people, with an estimated $9.8 billion net worth, according to Forbes. Thiel checks in at just $2 billion or so. This isn't about money any more. Or laws. > If both billionaires want to keep battling, this case could rattle around in a lot of different courts for a long time. We may not know yet who ultimately wins/loses. Oh we may be sure Nick Denton loses. To be a fly on the wall when Garry Kasparov heard about this!

by GCA10 10y ago

bduerst 10y ago

Was Nova involved in the court case, or have a personal vendetta against Hogan?

internaut 10y ago

Interesting. Can you provide sources and also what do you think the end game is? Did Nick Denton know he was going to lose and go ahead anyway? Or was he just unable to conceive of losing?

GCA10 10y ago
Glad to oblige on sources. Here's a copy of Nick Denton's memo announcing the investment and its relevance to the Hogan litigation: http://jimromenesko.com/2016/01/20/gawker-takes-outside-money-for-the-first-time/ http://jimromenesko.com/2016/01/20/gawker-takes-outside-mone... And here's a Fortune story with a little more background on the investors: http://fortune.com/2016/01/20/gawker-funding/ http://fortune.com/2016/01/20/gawker-funding/ On the "endgame" question, it's worth noting that Gawker's new backer is one of the world's 100 richest people, with an estimated $9.8 billion net worth, according to Forbes. Thiel checks in at just $2 billion or so. If both billionaires want to keep battling, this case could rattle around in a lot of different courts for a long time. We may not know yet who ultimately wins/loses.
- internaut 10y ago
  This may be one of the worse decisions I've seen in my lifetime. Does Denton not understand the high level ramifications of his decision? Has he any sense of self perseveration not blottoed by cocaine? He is now directly under the watchful eyes. > On the "endgame" question, it's worth noting that Gawker's new backer is one of the world's 100 richest people, with an estimated $9.8 billion net worth, according to Forbes. Thiel checks in at just $2 billion or so. This isn't about money any more. Or laws. > If both billionaires want to keep battling, this case could rattle around in a lot of different courts for a long time. We may not know yet who ultimately wins/loses. Oh we may be sure Nick Denton loses. To be a fly on the wall when Garry Kasparov heard about this!