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Bankruptcy judge rejects The Onion's bid to buy Alex Jones' Infowars (www.nbcnews.com)
submitted 2 weeks ago by ByteOnBikes@slrpnk.net to c/nottheonion@lemmy.world
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A bankruptcy judge on Tuesday rejected a bid by The Onion’s parent company to buy Alex Jones’ far-right media empire, including the website Infowars, ruling that the auction process was unfair.

U.S. Bankruptcy Judge Christopher Lopez said after a two-day hearing that The Onion’s parent company, Global Tetrahedron, had not submitted the best bid and was wrongly named the winner of an auction last month by a court-appointed trustee.

“I don’t think it’s enough money,” Lopez said in a late-night ruling from the bench in a Houston court. “I’m going to not approve the sale.”

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[-] ignirtoq@fedia.io 27 points 2 weeks ago

They didn't put in the biggest bid. They put in a bid that was a smaller amount of cash bundled with a waiver from the Sandyhook families that were to get a damages payout that they forgo their damages claim.

The third party evaluating the bids decided this was a better deal for Infowars' creditors, as that meant more of the bankruptcy money would be going to them, so that's why it was chosen.

this post was submitted on 11 Dec 2024
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