So the Hulkster "hoped" this would all just go away...NOT, when you have TMZ!  Hulk Hogan called in to TMZ live and learned that his long time friend, Bubba the Love Sponge, allegedly knew about the video recording of the "sex act" between his wife and Hulk Hogan. Mike from www.TMZ.com  stated that he heard Bubba on the video tape acknowledge he knew the sex act was recorded and  quoted Bubba's remark to Hulk Hogan  - "...and Bubba says, I quote, if we ever did want to retire, all we'd have to do is use this footage of him."  Listen to Hulk Hogan's  response by clicking the picture.

Watch TMZ live as it happened.