Summary
A federal judge has delayed approving the sale of Alex Jones’ media company, Infowars, to The Onion, amid disputes over the auction process.
The Onion won with a $1.75 million bid supported by Sandy Hook families, who agreed to forego their share of sale proceeds for future revenue from a revamped Infowars, enabling other creditors to collect more.
However, a competing bidder backed by Jones, First United American Companies, contested the sale, claiming its $3.5 million bid was unfairly rejected.
The judge plans an evidentiary hearing to ensure transparency.
Also the onion deal pays out a percentage revenues to the creditors over a set amount of time (I forget exactly how long), where as the other deal is one and done. So POTENTIALLY the earning potential is much higher with the onion deal, but I think the point of the onion deal was to bury infowars.