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Bankruptcy judge rejects The Onion's bid to buy Alex Jones' Infowars (www.nbcnews.com)

submitted 1 month 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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[–] ignirtoq@fedia.io 27 points 1 month 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.