A firm tied to Alex Jones has raised its bid for Infowars to over $7 million following a failed bankruptcy auction
The company, First United American, runs a site selling supplements in Jones’ name. They made this new offer even though there wasn’t an official call for it. A lawyer involved in the case mentioned this during a quick court hearing in Houston.
The whole sale is part of Jones’ bankruptcy case, which he filed after being ordered to pay nearly $1.5 billion in defamation lawsuits. These lawsuits were brought by families of Sandy Hook victims. Jones has been saying for years that the shooting was a hoax, which has caused a lot of pain for those families.
Most of the money from selling Infowars will go to the Sandy Hook families to help cover those huge judgments. Some will also go to other creditors. The future of Infowars is still uncertain after the auction mess, and it’s unclear how the asset sale will move forward. The trustee in charge will look at the new offers and decide the next steps.
The judge who canceled the auction said the process was flawed and didn’t raise enough money for creditors. There was also confusion about the value of The Onion’s bid. They and First United American were the only bidders.
Global Tetrahedron, the parent company of The Onion, had offered $1.75 million but wanted to kick Jones out and relaunch Infowars as a parody. First United American’s bid was $3.5 million, and they were expected to let Jones stay. Despite the lower offer from The Onion, the trustee picked them as the winner, thinking it would benefit creditors more.
Jones and First United American claimed there was fraud in the bidding, but the judge found no wrongdoing. Since the auction, the Sandy Hook families have reached an agreement on how to split the proceeds from the sales of Jones’ assets. They had been at odds for a while, but now it looks like they’re on the same page.
Under the new deal, families from the Texas lawsuit will get at least $4 million, while those from Connecticut will receive at least $12 million. If the Connecticut families get more than that, the Texas families will get a share of the extra. This agreement still needs the judge’s approval.
