this post was submitted on 11 Dec 2024
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325
Judge Rejects Sale of Infowars to The Onion (www.nytimes.com)
submitted 23 hours ago by [email protected] to c/technology
65 comments fedilink hide all child comments
 

“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.

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[–] themeatbridge 48 points 23 hours ago

And there's a trustee for a reason. The debtors decided that the value of keeping Alex Jones away from InfoWars had its own value and were willing to accept a lower bid. There's no fiduciary duty to maximize the proceeds from the sale, and Alex buying back his own assets during a bankruptcy auction is actual fraud.