Bankruptcy judge rejects The Onion’s bid to buy Alex Jones’ Infowars
Bankruptcy judge rejects The Onion’s bid to buy Alex Jones’ Infowars
The ruling dashed, at least for now, the plans of The Onion’s parent company to take over Infowars and radically shift its content.
You're viewing a single thread.
Wait a second. A judge blocked the Onion from buying the site at auction because... he thinks it should have sold for more? My brother in Christ, do you understand what an auction is?!
Specifically, he thought the trustee should have allowed the other LLC (which is totally not affiliated with him yet only exists to shelter his supplement business) more time to counteroffer.
But that makes no sense. It's an auction. There's a time limit. It's not an acquisition. You're being forced to sell something.
It was a sealed bid auction. Every interested party submits a bid, and the winner is selected by the trustee, no counterbids. Not really an "auction" like most people think. I despise AJ and want the Onion to win, but the judge told them they have to do it over.
You know what else makes no sense? Letting someone bid on his former property using money he owes to the people selling.
Why does that make no sense? He has debts to pay, can't cover them, and so his assets are sold at auction to pay them off. Same thing happens to people every day via civil forfeiture.
okay, but he's trying to buy the thing he says he can't afford with money he claims he doesn't have, which is (allegedly) why he he can't pay the debts he owes. you're creating a false equivalence. no one gets this treatment. this is magical rich white guy thinking, and the court is going "oh what's that? you're rich and white? sure! you take all the time you need to get the money together to buy back your propaganda machine. meanwhile these parents of kids who would have started college this year… um… i guess they can go get fucked. fuckin' poors"
Because he's trying to use the money he owes to buy back his stuff, when it should have been seized too