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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[–] AbouBenAdhem 9 points 20 hours ago (1 children)

Seems like they could have avoided this by having the Sandy Hook families join the bid with an arbitrarily high dollar amount—which they’d immediately get back as creditors.

[–] [email protected] 11 points 19 hours ago (1 children)

That's essentially what they did. They chose an auction type where each party offers as much as they're willing to pay and the highest offer wins. The Sandy Hook families included a chunk of their debt in the offer which was part of the value.

[–] [email protected] 2 points 19 hours ago

I think Abou meant bidding with cash instead of debt.