The Hispanic media giant will pay the erstwhile CEO the tidy sum of $16,666 per month – yes, you read that right, per month – for two years as part of a noncompete agreement in which Denton promises not to work for any other sites in the same space.
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The body slams continued for Gawker founder Nick Denton Wednesday as he wrangled over his personal expenses with Hulk Hogan’s lawyers in Manhattan bankruptcy court.
Denton’s plan to rent his $4.25 million condominium at 76 Crosby Street in lower Manhattan for $12,500 per month shouldn’t be allowed to go forward, because it won’t come close to covering the property’s monthly costs, and will make it more hard to sell, Hogan’s lawyers said in court papers filed Wednesday.
“Peter Thiel has achieved his objectives”, Denton writes.
Whatever you think of Daulerio for his role in posting excerpts of the Hogan sex tape, the jury was instructed not to bankrupt the defendants, and Daulerio was already in debt thanks to unpaid student loans.
Daniel Tabak, a lawyer for Hogan, had argued that he was anxious Denton would “run out of money very soon” if he he leased the unit for that sum because his monthly mortgage and condo fees exceed $18,000. Most recently, it has been under attack by Silicon Valley billionaire Peter Thiel, who admitted earlier this year he was bankrolling lawsuits against the company in an attempt to shut down the site that he claims once outed him as gay.
“He is essentially borrowing money from creditors to pay for the Condominium”, they said in court papers filed Wednesday. He suggested Denton give more thought to seeking a broker to sell his apartment – although he didn’t mandate that Denton sell it.
On cross examination, Hogan’s lawyers also pressed Denton to detail what kind of money he’ll be earning over the next two years.
The Gawker domain is also being left behind in bankruptcy. In a request to enter into the lease, Denton’s lawyers said in court filings that if the tenant can’t move in soon, the person may walk away and Denton may not be able to find another tenant.
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Updates with condo details starting in second paragraph.
