Is Gawker Paying for Lawsuits With Russian Money?
Gawker Media has not been in the pound seats lately and being cash-strapped can make a company desperate. So desperate was one of the largest media players in the US that they turned to the most flamboyant strongman they could find – and this is not referring to one of the WWF wrestlers, like Hulk Hogan. The man who came to the media company’s rescue is none other than one of the richest men in Russia, the oligarch Viktor Vekselberg. Besides collecting Fabergè eggs that cost US$100 million a pop, Vekselberg has other extravagant hobbies like scuppering the world aluminium market and sending squads to seize Siberian oil fields.
Birds of a Feather
Gawker is known for being gossip-mongers of the worst kind. They have recently been at the wrong end of a US$100 million lawsuit from flamboyant WWF superstar Hulk Hogan; they have caused US congressman Chris Lee to resign, and have gotten into trouble with feminists for allegedly ‘slut-shaming’ US Republican nominee Christine O’Donnell. Obviously an unsavoury reputation is not a problem for Vekselberg who has been fined US$38 million by the Swiss authorities after one of several criminal investigations launched against him. Besides his ostensibly deplorable actions on the oil fields and in the international aluminium industry, it is also rumoured that the Russian billionaire has close ties to controversial Russian president Vladimir Putin.
Not Yet a Done Deal
The deal between Gawker and Vekselberg is being handled by his investment company and is still pending shareholder approval. According to the company, which is called Columbus Nova, the investment was made because of the court case against Gawker by Hulk Hogan is threatening to crush the operation in court. The case was sparked by Gawker posting a video of Hogan being intimate with the wife of a friend. They were eventually forced to take it down and the wrestler initiated the lawsuit against the site for violating his privacy. Cases like this can get very expensive… making this the ideal time for a super-wealthy Russian to save the day.