On: The Onion buys Infowars

[griffzhowl]

"At a court hearing Thursday afternoon in Houston, the trustee who oversaw the auction, Christopher Murray, acknowledged that The Onion did not have the highest bid but said it was a better deal overall because some of the Sandy Hook families agreed to forgo a portion of the sale proceeds to pay Jones’ other creditors."

https://apnews.com/article/onion-buys-infowars-alex-jones-64...

[cogman10 → griffzhowl]

Right, so if The Onion bid $2.5M and the Sandy hook families said "Our portion of that $2.5M will be forgiven and it will pay for the other creditors" Then Jones' debt would have been reduce by ~$5M instead of the $3.5M of the other bidder.

Now, it is possible that the onion only bid $1.75M in which case there might be something to the claim. But, I doubt that's the case.

[griffzhowl → cogman10]

I just posted that to communicate that there are reliable sources, not just Jones, that say the Onion bid was lower.

[cogman10 → griffzhowl]

Fair enough. I was unaware the trustee had publicly said the bid was lower.

I did, however, want to flush out exactly what sort of math the trustee would be doing in this case to justify taking the lower bid.