Summary
A federal judge has delayed approving the sale of Alex Jones’ media company, Infowars, to The Onion, amid disputes over the auction process.
The Onion won with a $1.75 million bid supported by Sandy Hook families, who agreed to forego their share of sale proceeds for future revenue from a revamped Infowars, enabling other creditors to collect more.
However, a competing bidder backed by Jones, First United American Companies, contested the sale, claiming its $3.5 million bid was unfairly rejected.
The judge plans an evidentiary hearing to ensure transparency.
The point is not (necessarily) to ruin Jones and the people who work for him but to pay the creditors.
In fact the court would have preferred NOT to ruin his company if possible. That was the point of chapter 11. But Jones seems hell bent on his own matrydom.