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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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[-] NutWrench@lemmy.ml 81 points 2 weeks ago

“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.”

Who gives a shit if "you don't think it's enough money." An offer was made by The Onion and accepted by the seller. What YOU want has fark-all to do with anything.

[-] HeyJoe@lemmy.world 12 points 2 weeks ago

Wouldn't the sale of the company go directly to what he owes the people? If so I doubt the seller cares what it's sold for, but the judge may think it's unfair to settle that low so that the people can get more possibly? I also could be wrong and that's not were the money goes? Just seemed like that's what this is for. I doubt they will get much more after things are sold either.

[-] Pronell@lemmy.world 36 points 2 weeks ago

The recipients signed off on the sale.

[-] HeyJoe@lemmy.world 4 points 2 weeks ago

Thanks!

[-] Susaga@sh.itjust.works 71 points 2 weeks ago* (last edited 2 weeks ago)

This is the most upsetting, and most literal, instance of "not the onion"

[-] givesomefucks@lemmy.world 55 points 2 weeks ago

Obviously bullshit...

They made the highest bid, no one else bid higher.

The judge said they should have tried to get Alex Jones to make an even higher offer...

And since they didn't, it somehow means Alex Jones owns it still and is already broadcasting?

The US legal system is a fucking joke.

[-] Carrolade@lemmy.world 44 points 2 weeks ago

They made the highest bid, no one else bid higher.

That's not entirely true. If you read the article, that's just not what it says.

I hope the Onion has the resources to genuinely outbid. Perhaps they could accept crowdfunding donations to reach the amount if necessary?

Here's Legal Eagle on this particular case, incidentally:

https://youtu.be/GmDNz7irGgw

[-] TachyonTele@lemm.ee 13 points 2 weeks ago

You seriously need to at least read the article before you comment like this.

[-] Kalkaline@leminal.space 6 points 2 weeks ago

They should just take all his assets and garnish any payment to him so he's got 0 wealth to his name and is forced to live on minimum wage.

[-] Skullgrid@lemmy.world 19 points 2 weeks ago

capitalism my ass

[-] als@lemmy.blahaj.zone 14 points 2 weeks ago

If they put the biggest bid in then surely it's enough money? How come some random guy gets to decide not 🥴the free market🥴

[-] 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.

[-] FrostyCaveman@lemm.ee 13 points 2 weeks ago

The Onion’s parent company is called “Global Tetrahedron” lmao

[-] XeroxCool@lemmy.world 11 points 2 weeks ago

Again? Still?

[-] TachyonTele@lemm.ee 7 points 2 weeks ago

Still. This was the conclusion of the auction from a few weeks ago.

[-] RobotToaster@mander.xyz 8 points 2 weeks ago

They used sealed bids, that's okay when the value of something is known, but for a "one of a kind" conspiracy theory website that doesn't seem like the best method to me.

[-] intensely_human@lemm.ee 1 points 1 week ago

Interesting that there’s a whole community for questions that can be answered with “Not The Onion”

this post was submitted on 11 Dec 2024

174 points (99.4% liked)

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