WWN and FloSports issued a joint release to PWTorch announcing they have resolved their legal dispute:
FloSports and WWN have jointly announced that they have agreed to resolve their dispute. The terms of the agreement are to remain confidential. FloSports General Counsel, Paul Hurdlow said, “We’re pleased to have this behind us and wish WWN well in the future.” WWN CEO Sal Hamaoui stated, “WWN is pleased that this unfortunate situation has been mutually rectified. We wish FloSports the best in their future endeavors.”
The notice of voluntary dismissal was filed on Feb. 27.
Radican’s Analysis: The terms of the settlement are confidential, but I would not be surprised WWN is going to be receiving some financial relief from FloSports. It’s not a surprise that both sites settled quickly after CEO Martin Floreani was forced out of FloSports on Feb. 14. Floreani was the driving force behind the lawsuit. This ends a difficult saga for WWN, as they went through a period where FloSports stopped paying them back in June and they have been funding the company out of pocket since that time.