Sale of Alex Jones’ Infowars in limbo because bankruptcy trustee hasn’t found a buyer
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The court-appointed trustee in charge of selling Infowars, Alex Jones’ conspiracy-fueled right-wing media company, said Wednesday that he might abandon his efforts to find a buyer.
The trustee, Christopher Murray, told U.S. Bankruptcy Judge Christopher Lopez in a Houston courtroom that his quest could end this month.
“We’re leaning toward abandonment,” Murray said. “We’ve gotten minor indications of interest, but no one’s made an offer.”
Murray has been charged with attempting to sell Jones’ equity in Free Speech Systems, the parent company of Infowars, since Lopez canceled an attempted auction sale of the business last year.
Jones owes more than $1.3 billion to families of the 2012 Sandy Hook Elementary School shooting. Jones was in 2022 found liable for defamation claims brought by the families, who sued him after he falsely claimed that the mass killing was a hoax.
If Murray abandons his sale of the equity, the property would revert back to Jones, who is still responsible for his debts.
Selling equity in the business means selling ownership, including responsibility for its assets and debts, to an interested buyer. When Free Speech Systems sought bankruptcy protection in 2022, it claimed to have more than $50 million in long-term liabilities.
Free Speech Systems’ assets – including studio equipment and the intellectual property rights to Infowars – went up for sale last year and drew bids valued at around $3.5 million. One of the bidders was The Onion, the satirical news site. Lopez rejected the sale because he felt the auction didn’t generate enough money.
Murray’s latest statements came during an emergency hearing requested by lawyers for the parents of Sandy Hook Elementary School shooting victims, who accused Jones and his lawyers of attempting to sow “chaos and confusion” as the parents and their lawyers attempt to collect the judgments against him.
The families accused Jones of misrepresenting an order made by Lopez last year and convincing a state court to issue a stay preventing Jones’ assets from being collected and sold. A Texas district judge in August ordered that a receiver, separate from Murray, be appointed to take control of Jones’ assets and possibly set up another sale of Infowars through an auction.
Read more https://www.yahoo.com/news/articles/sale-alex-jones-infowars-limbo-214726416.html
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