Hulk Hogan, Gawker Talking Settlement

Hulk Hogan and Gawker have engaged in preliminary talks to reach a settlement regarding the $140 million judgment that Hogan won in a civil suit against the website.

As first reported by the Wall Street Journal on Sunday, the newspaper cited two unnamed sources who acknowledged the settlement talks were taking place but did not know if the discussion would result in an agreement.

Hogan successfully sued Gawker, its CEO Nick Denton and its former editor A.J. Daulerio for violating his privacy by publishing a video of Hogan having sex with the wife of radio shock jock, Bubba the Love Sponge.

After Hogan received the nine-figure judgment, Gawker Media filed for Chapter 11 in June and put itself up for sale, with a court-administered auction set to take place in the coming days. Last week, Denton also filed for bankruptcy protection following the judgment.

Billionaire Peter Thiel provided the funding behind Hogan's lawsuit against Gawker.

The major star during World Wrestling Entertainment's rise to popularity in the 1980s, Hogan is one of the most famous names in professional wrestling. A 12-time world champion in both WWE and WCW, Hogan also is in the WWE Hall of Fame. Last summer, WWE cut all ties with Hogan--including removing him as a judge on Tough Enough midway through a current season--after the National Enquirer published an audio recording of Hogan -- which was made as part of the sex tape that was leaked by Gawker -- that included Hogan giving racist opinions and using racial slurs.

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