Judge Rejects Onion’s Infowars Bid, Sparking Outrage
A bankruptcy judge rejected The Onion’s parent company, Global Tetrahedron’s, winning bid for Alex Jones’ Infowars, citing an insufficient bid and lack of transparency in the auction process. The judge ruled that the $1.75 million cash bid, combined with creditor concessions valued at $7 million, was less favorable than a rival bid of $3.5 million in cash. The decision leaves the future of Infowars uncertain, with the possibility of a new auction to determine the buyer of Jones’ assets, which are being sold to satisfy a $1.2 billion judgment. The judge did not fault the trustee, but criticized the process as insufficient in ensuring a maximized sale.
John Q. Hosedrinker