Federal Judge Blocks The Onion's Acquisition of InfoWars
A federal judge blocked The Onion's acquisition of InfoWars, citing that the sale process did not maximize the value for creditors. The Onion had bid $7 million for the site, with $1.75 million coming from its parent company Global Tetrahedron and the rest from funds from the Sandy Hook families' lawsuit against Alex Jones. The judge criticized the sealed bidding process used in the auction.
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Topics: acquisition bankruptcy legal media