"After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached. The saga is over."

According Forbes, Denton did not disclose the terms of the settlement, however court documents revealed the case was settled for $31 million plus a portion of the website's sale proceeds. Denton added wrote that while the company was "confident" an appeals court would reduce a $140 million settlement awarded to the former wrestler and entertainment star, ultimately Gawker, the writer of the story against Hogan and he himself would not be able to fund the legal battle.

Below is Denton's full statement:

A Hard Peave

After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached. The saga is over.

As the most unpalatable part of the deal, three true stories?—?about Hulk Hogan, the claim by Shiva Ayyadurai that he invented email and the feud between the founders of Tinder?—?are being removed from the web.

Yes, we were confident the appeals court would reduce or eliminate the runaway Florida judgment against Gawker, the writer of the Hogan story and myself personally. And we expected to prevail in those other two lawsuits by clients of Charles Harder, the lawyer backed by Peter Thiel.