this post was submitted on 11 Dec 2024
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316
Judge Rejects Sale of Infowars to The Onion (www.nytimes.com)
submitted 21 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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[–] [email protected] 36 points 20 hours ago

Sealed buds are usually better for that.

https://www.investopedia.com/terms/s/sealed-bid-auction.asp

Each party is incentivised to make the highest offer they're willing to pay from the beginning, as opposed to negotiating the best price they can get.

Additionally, the families forgiving a significant amount of money as part of the bid should factor in, since the responsibility of the estate is to get the best deal, not the most cash.