The auction result is pitting the satirical news company, which is supported by Sandy Hook families, against First United American Companies, an LLC backed by Jones.
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.