A bankruptcy judge rejected The Onion’s parent company’s bid to buy Alex Jones’ far-right media empire, Infowars, ruling the auction process was unfair. The judge found that the bid by The Onion’s parent company did not offer enough money and was not the best bid. The ruling leaves Jones free to continue operating his media business. The families of the victims of the Sandy Hook school shooting, who successfully sued Jones for defamation, partnered with The Onion in its bid. The judge criticized the trustee for not running a transparent process and failing to allow a rival bidder associated with Jones to improve its offer. The ruling has disappointed both The Onion and the families of the Sandy Hook victims. The bid by The Onion’s parent company included cash and a pledge by creditors to forgo proceeds they would typically receive from the sale. A rival bidder offered more cash, but the judge said a different process could have earned more money for creditors. The sale of Jones’ assets is part of his bankruptcy proceedings due to the $1.2 billion he owes to the Sandy Hook families. The trustee defended his auction process, saying his goal was to maximize payouts to creditors. The ruling has left the outcome of the sale uncertain with no clear path forward for any bidder.
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