The ruling dashed, at least for now, the plans of The Onion’s parent company to take over Infowars and radically shift its content.

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.”

  • NutWrench@lemmy.mlEnglish
    65·
    13 hours 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.worldEnglish
      10·
      13 hours 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.

  • alsEnglish
    18·
    14 hours 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
      20·
      14 hours 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.

  • RobotToaster@mander.xyzEnglish
    8·
    14 hours 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.