Source: The Wall Street Journal

The Wall Street Journal is reporting that online media company, Gawker, has entered into settlement negotiations with professional wrestling legend, Hulk Hogan, over the $140-million court decision in favor of Hogan.

'The Hulkster' accused Gawker, the company's head Nick Denton, and former Gawker editor A.J. Daulerio of invasion of privacy for publishing a sexually explicit video clip of Hogan and the wife of his then-best friend, Bubba 'The Love Sponge' Clem.

The settlement talks follow Gawker's Chapter 11 bankruptcy filing in June and come a week ahead of Gawker's court-administered auction that will also see Denton removed as chief executive.

Recently, Denton filed for personal bankruptcy protection and named Hogan as his biggest creditor.

Two Wall Street Journal sources indicated that fruitless settlement discussions took place throughout the legal process and it remains unclear whether these new talks will prove successful.

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