– First United American offers over $7 million for Infowars, doubling previous bid. – Infowars sale tied to Alex Jones’ bankruptcy after $1.5 billion judgment. – Judge voided previous auction due to flaws. – Settlement reached on proceeds for Sandy Hook families. – Further bids expected from Global Tetrahedron.
A company affiliated with conspiracy theorist Alex Jones has upped its bid for the Infowars platform to more than $7 million, doubling its previous offer after losing the bankruptcy auction to The Onion. Attorney Joshua Wolfshohl, representing the trustee for Jones’ bankruptcy case, informed a Houston court that the new offer came in despite no formal request. The trustee anticipates another bid from Global Tetrahedron, the parent company of The Onion.
The sale of Infowars comes in the wake of Jones’ personal bankruptcy following significant defamation rulings, totaling nearly $1.5 billion due to lawsuits by families of Sandy Hook victims. Jones had previously labeled the tragic 2012 shooting as a hoax. Funds raised from the sale are expected to benefit the Sandy Hook families and other creditors, though the sale process is still uncertain.
Following a flawed auction, Judge Christopher Lopez annulled the sale of Infowars to The Onion, criticizing the lack of transparency in the bidding process. He stated that The Onion’s bid, originally valued at $1.75 million with intentions of rebranding Infowars, posed complexities. In contrast, First United American’s higher bid allowed for Jones’ continued involvement.
Since the auction was voided, the families involved from both Connecticut and Texas lawsuits have settled on how to allocate the proceeds from Jones’ assets. Under this arrangement, Texas families will receive a minimum of $4 million, while Connecticut families are set to receive at least $12 million, with conditions for further distributions. This agreement is subject to approval by Bankruptcy Judge Christopher Lopez.
The ongoing saga of Alex Jones’ bankruptcy involves significant developments regarding the sale of Infowars. First United American has increased its bid after the initial auction failed. Funds from the auction will support Sandy Hook families. Additionally, a settlement has been reached concerning the distribution of proceeds from various lawsuits, pending judicial approval.
Original Source: abc11.com
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