The Onion’s acquisition of Infowars blocked by judge

1 month ago 24

The Onion’s acquisition of InfoWars isn’t happening — astatine slightest for now. In a ruling connected Tuesday, a Texas bankruptcy justice rejected The Onion’s acquisition of the conspiracy-ridden website founded by Alex Jones, according to a study from The New York Times.

Last month, The Onion announced that it had purchased InfoWars during a bankruptcy auction of Jones’ assets. It had the enactment of the families of the Sandy Hook Elementary School shooting victims, who successfully sued Jones for much than $1 billion for spreading mendacious claims. However, Judge Christopher Lopez halted the merchantability soon aft the auction.

As reported by The Times, Lopez disagreed with the sealed bidding process utilized to merchantability Jones’ assets, saying that the auction didn’t “maximize” the magnitude of wealth Jones’ creditors could’ve gotten from the merchantability of InfoWars. “It seemed doomed astir from the infinitesimal they decided to spell to a sealed bid,” Judge Lopez said erstwhile handing down his decision, according to The Times. “Nobody knows what anybody other is bidding.”

The Onion bid $7 cardinal to get InfoWars, which included $1.75 cardinal from its genitor institution Global Tetrahedron, portion the remainder would travel from wealth Sandy Hook families won from their suit against Jones, The Times reports. Despite this roadblock, Global Tetrahedron inactive intends to prosecute an acquisition of InfoWars, with the extremity of replacing the tract with “a relentless barrage of wit for good.”

“We are profoundly disappointed successful today’s determination but The Onion volition proceed to question a solution that helps the Sandy Hook families person a affirmative result for the fearfulness they endured,” The Onion CEO Ben Collins said successful a station connected Bluesky. “We volition besides proceed to question a way toward purchasing InfoWars successful the coming weeks.”

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