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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[–] [email protected] -3 points 22 hours ago (1 children)

Common in bankruptcy as well?

[–] [email protected] 8 points 21 hours ago (1 children)

No idea, and not entirely sure why it matters. If your goal is to sell an asset and maximize proceeds, it's a known and unsurprising strategy, particularly since it gives higher returns when there are few bidders.

[–] [email protected] -2 points 15 hours ago

I think it has quite a chance of mattering. There's two choices here: the judge is incomptetent/compromised, or there's a reason this makes sense within the bankruptcy context. I want to explore the latter first before I make any judgements.