A company linked to Alex Jones is offering $7 million to buy his Infowars platforms, exceeding its previous bid. The sale, amidst Jones' bankruptcy case stemming from defamation lawsuits filed by Sandy Hook families, remains uncertain. The future of Infowars and the distribution of proceeds to creditors and victims' families are still under discussion.
A company associated with conspiracy theorist Alex Jones is now offering over $7 million to acquire his Infowars platforms, significantly exceeding its initial proposal when it lost to The Onion satirical news outlet in a bankruptcy auction. First United American Companies, which operates a website under Jones' name selling nutritional supplements, submitted this new offer despite no formal request to do so.
Joshua Wolfshohl, an attorney representing the trustee overseeing Jones' bankruptcy, disclosed this information to a bankruptcy court judge during a brief hearing in Houston. This development stems from Jones' personal bankruptcy case, triggered by defamation lawsuits filed in Connecticut and Texas by relatives of victims of the Sandy Hook Elementary School shooting in Connecticut. Jones persistently claimed the 2012 shooting, which tragically resulted in the deaths of 20 children and six educators, was a hoax orchestrated by actors to promote gun control.A substantial portion of the revenue generated from the sale of Infowars, as well as numerous personal assets belonging to Jones being auctioned off, will be directed towards the Sandy Hook families to partially satisfy the defamation judgments awarded against him. Some proceeds will also be allocated to Jones' other creditors. The future of Infowars, headquartered in Jones' hometown of Austin, Texas, remains uncertain following the unsuccessful auction. It is still unclear how the sale of its assets will proceed. Wolfshohl stated that the trustee, Christopher Murray, will carefully evaluate the new offers and determine the next course of action. He expressed, 'I don't know exactly what it's going to look like, but I think we would come back to the court and say, 'Judge, here's what we've got. Let's talk about a sale process, one that your honor's comfortable with, possibly with an auction.'Previously, in December, the bankruptcy judge presiding over the case rejected the sale of Infowars to The Onion, citing a flawed bidding process, lack of transparency, and insufficient funds raised for creditors. The judge also expressed concerns regarding the ambiguity surrounding The Onion's bid and its true value. Both The Onion and First United American Companies were the sole bidders. Global Tetrahedron had proposed a $1.75 million cash offer, intending to oust Jones and relaunch Infowars in January. This bid also included an agreement with many of the Sandy Hook families to relinquish $750,000 of their auction proceeds and redirect it to other creditors. First United American offered $3.5 million in cash and anticipated allowing Jones to retain his role at Infowars. Despite The Onion's lower cash offer, the trustee selected their bid as the auction winner, arguing that it would ultimately yield more funds for creditors. Jones and First United American Companies had alleged fraud and collusion in the bidding process, but the judge dismissed these claims, finding no wrongdoing. Since the auction, the Sandy Hook families, who secured over $1.4 billion in the Connecticut lawsuit and approximately $50 million in the Texas lawsuit, have reached an agreement on how to distribute the proceeds from the sales of Jones and Infowars' assets. This followed months of dispute between the two parties.Under the agreed-upon terms, the families involved in the Texas lawsuit would receive at least $4 million, while the families in the Connecticut lawsuit would receive at least $12 million. If the Connecticut lawsuit families receive more than $12 million, the families in the Texas lawsuit will be entitled to 25% of that additional amount. This agreement still requires approval from Lopez, the bankruptcy judge
ALEX JONES INFOWARS BANKRUPTCY SALE MEDIA SANDY HOOK DEFAMATION CREDITORS LEGAL
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