Why is it a story that a billionaire is secretly bankrolling Hulk Hogan's lawsuits against Gawker?
It's because this billionaire isn't doing it for the traditional legal reasons (he so strongly believes in the wronged person) or for the money (that's what the lawyers are doing). He's doing it, allegedly, to punish Gawker--to get revenge for articles they have written about him.
That has to be a little chilling for anyone in the press. Try writing about these billionaires accurately and fairly with the threat of legal destruction hanging over your head.