Judge rejects sale of Alex Jones' Infowars to The Onion in dispute over bankruptcy auction
A federal judge has rejected the sale after Jones claimed that a recent bankruptcy auction was fraught with illegal collusion.
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You know what would make the auction process more transparent? Don't make it a blind auction.
On a different note, is there a Gofundme up for The Onion to make sure they win the next auction yet?
I'm willing to bet that fucking Elon musk is going to buy it in the next round..
While that's a horrible thought, but pushing the price tag up only helps the Sandy Hook victims. Adding the InfoWars brand to his catalogue doesn't really expand his reach any further than X.
It's kind of a nice thought that he would effectively be paying some of the remuneration.
Adding the InfoWars brand to his catalogue doesnât really expand his reach any further than X.
I just worry that he'll see this as some sort of "free speech crusade" and integrate infowars into X or something. Just for the grift and because he has enough money that nobody tells him "no" anymore.
But as somebody else pointed out it's unlikely to go to auction again - so hopefully it's resolved to the families' favor.
Lopez cited problems â but no wrongdoing â with the auction process. He said he did not want another auction and left it up to the trustee who oversaw the auction to determine the next steps.
I would be surprised if the auction was restarted. The "problems" cited seem to be that the judge just wanted the families to get more money and to minimize the chance of a lawsuit from the losers messing with them. Even though this is the bid that would get the families more money, I think everyone was surprised at how low the bids were. And the more complicated nature of the bid makes it more likely that a lawsuit could hold things up. If The Onion's side can add a couple million more so that it's the highest bid outright as well as getting the families a little more, I think the judge would approve it.
I think that's good - the more attention this whole thing gets the more it will attract the attention of grifters like Musk (he's already been poking his nose in where it doesn't belong)...
The families seem to realize they're getting a "fuck ton of money" regardless and are more interested in punishing Jones personally - which is perfectly understandable even if it's not the "point" of this process. I hope the onion can match at least and give these folks not only the money they deserve but the small amount of comeuppance to Jones he deserves.
I think everyone was surprised at how low the bids were.
Why
Maybe they could do it Cards Against Humanity style, and let millions of us each own a tiny slice of it.
You just described a publicly traded company.
Cards divided up an island in a lake in Maine, sold 1sqft lots
I'm not familiar with that one. I was thinking about the land along the Mexican border.
Private companies can have multiple investors.
Too late now that this got media awareness, if you believe a GoFundMe is going to raise more than some right-wing media outlet I have a bridge to sell
Well that might be true, but the silver lining is that the larger the price tag, the more the Sandy Hook victims actually get. It's almost like duping the crooked billionaires to pay their taxes.
At this point, with all the bullshit going on, I fully expect them to get nothing regardless. Why would anything good happen?
Hey, you gotta buck up, man. You can not bring this negative energy into the tournament.
I'll buck up when I have something to buck up for.
I doubt that is the case though.
It's not that simple. The judge rejected the bid because it included the Sandy Hook families forgoing $750,000.
I don't understand why this matters. The families knowingly accepted the lower bid so The Onion could try and do some good with the brand. It seems like, at the point where it's being auctioned off with all proceeds going to the families, InfoWars should effectively be theirs to do with as they please.
Money matters. Morals don't.
Well my assumption is that the next auction will be won by the highest bidder, so your point isn't really contradictory.
The judge did not actually order a new auction, just left the next steps up to the trustee who oversaw the first auction. The article specifically points this out so I'm not sure if this means there wr other ways it could play out besides redoing the auction.
Read further. There are two judgements against Jones: one for ~$50M and one for ~$1B. In a normal bankruptcy resolution, the 8 families of the $1B judgement will get 95% of the proceeds, while the 2 families of $50M get 5%. "Sandy Hook families forgoing $750,000" means that those 8 families are effectively giving $750k of their millions to the 2 families, resulting in a more even distribution of compensation across the whole group.