Local media in the Tampa area were alerted via press release today that Hulk Hogan would be holding a press conference at 5:00 p.m. Eastern to discuss his legal action regarding his leaked sex tape. According to the release, Hogan will be filing two lawsuits. This includes a state lawsuit against Bubba the Love Sponge and his ex-wife Heather Clem for filming the sex tape without his knowledge. The second will be a federal lawsuit against the website Gawker.com which featured a one minute edited version of the sex tape online. Hogan will be seeking damages in both lawsuits.