Infowars Company Linked to Alex Jones Offers $7 Million in Bankruptcy Auction

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Infowars Company Linked to Alex Jones Offers $7 Million in Bankruptcy Auction
ALEX JONESINFOWARSBANKRUPTCY

First United American Companies, a company connected to conspiracy theorist Alex Jones, has submitted a new bid of over $7 million to purchase Infowars, the online platform Jones used to spread misinformation, including his baseless claims about the Sandy Hook Elementary School shooting. This offer surpasses the previous bid of $3.5 million and comes after a failed auction where The Onion, a satirical news outlet, was initially chosen as the winning bidder.

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A company linked to conspiracy theorist Alex Jones is offering over $7 million to buy his Infowars platforms, more than double what it proposed when it lost to The Onion satirical news outlet in a bankruptcy auction.

First United American Companies, which runs a website in Jones’ name that sells nutritional supplements, submitted the new offer despite there being no official request to do so, Joshua Wolfshohl, an attorney for the trustee overseeing Jones' bankruptcy, told a bankruptcy court judge at a brief hearing in Houston. The new offer comes after a failed auction in December where The Onion's $1.75 million bid was ultimately accepted. The bankruptcy judge, had rejected the sale of Infowars to The Onion in December, saying the bidding process was flawed, not transparent, and didn't raise enough money for creditors. He also said there was too much confusion about The Onion's bid and its actual value.Nearly $1.5 billion in defamation lawsuits in Connecticut and Texas filed by relatives of victims of the Sandy Hook Elementary School shooting in Connecticut have led to Jones' financial troubles. Jones repeatedly called the 2012 shooting that killed 20 children and six educators a hoax staged by actors and aimed at increasing gun control. Most of the proceeds from the sale of Infowars, as well as from many of Jones’ personal assets that are being sold, will go to the Sandy Hook families to help satisfy the defamation judgments. Some proceeds will go to Jones’ other creditors. The future of Infowars, based in Jones' hometown of Austin, Texas, remains up in the air after the failed auction, and it's still not clear how the sale of its assets will proceed. Wolfshohl said the trustee, Christopher Murray, will evaluate the new offers and decide what to do next. “I don’t know exactly what it’s going to look like,” Wolfshohl said. “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.’” Also since the auction, the Sandy Hook families who won more than $1.4 billion in the Connecticut lawsuit and those awarded about $50 million in the Texas lawsuit have reached a deal on how to split the proceeds from the sales of Jones and Infowars' assets. The two sides had been at odds over the issue for months. Under the agreement, the families in the Texas suit would get at least $4 million and the Connecticut suit families would get at least $12 million. If the Connecticut suit families get more than $12 million, the families in the Texas lawsuit would get 25% of that extra amount. The deal needs to be approved by Lopez, the bankruptcy judge.

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