Judge will not reduce $140 million in damages Gawker has to pay Hulk Hogan

Judge Denies Gawker, Does Not Reduce $140 Million in Damages
Judge Denies Gawker, Does Not Reduce $140 Million in Damages

Gawker Media was handed a loss today as a judge in Florida denied Gawker's motion for a new trial, which means the $140 million in damages awarded to Hulk Hogan will not be reduced.

Anna Phillips for the Tampa Bay Times was the first to report the news.

Gawker can appeal this latest ruling to Florida's Second District Court of Appeals, where it is confident it will succeed, reports Capital New York.

Gawker Media, a New York-based online news site, was hoping that a Florida court would reduce a jury verdict handed down earlier this year in which Terry Bollea, also known as pro wrestler Hulk Hogan, won an invasion of privacy suit against Gawker which awarded him $140 million.

But during a court hearing, state court judge Pamela Campbell rejected a motion by Gakwer to reverse or reduce the verdict.

See images from the explosive trial:

Wednesday's development means that Gawker may be required to post a $50 million bond under Florida state law.

Hulk Hogan sued Gawker over a news article in 2012 written by editor A.J. Daulerio which included a clip of Hulk Hogan having sex as well as a lengthy written description.

On Tuesday, several reports claimed that Sillicon Valley investor and billionaire Peter Thiel is secretly funding Hogan's lawsuit against Gawker.

Gawker will appeal.

Gawker is the high-brow gossip sheet covering media, entertainment, politics and technology.

NOW WATCH: 'Affluenza' teen will be coming back to the US — may argue his mother forced him to flee the country

See Also:

SEE ALSO: Hulk Hogan's sex-tape suit could venture into 'uncharted' territory