51–60 of 1001 posts
It is clear that Jones and his relatives have moved money and assets around in order to shield them from the verdict. Now, money that should have been already given to the victims is being used to steal back the megaphone that caused harmed in the first place. The end effect will probably be even more subscribers and money for Jones which he will use with even less restraint since he knows there are no consequences.…
Earlier quoted context omitted.
Isn't it a little strange, though, that the system notionally decided that the families are owed an enormous amount of economic power as compensation for the nasty behavior of Alex Jones' media company, but at the same time it's obliging them not to use that economic power to prevent the sale of the media company to a "new owner" still affiliated with an unrepentant Alex Jones, who will undoubtedly continue the nasty…
They have a debt judgement not economic power. They can sell that debit judgement to a company who collects. They can take the money from the result of the court process and try to buy infowars after this is all over. They don't have a judgement of ownership in infowars they have a debt and the court is forcing Alex to sell all assets to cover the debt. Then the rest is written off and he gets a black mark on his cre…
Except Onion’s bid minimized Alex Jones debt and was the preferred outcome by his creditors. Offering more cash isn’t the same as making a larger bid here.
It is clear that Jones and his relatives have moved money and assets around in order to shield them from the verdict. Now, money that should have been already given to the victims is being used to steal back the megaphone that caused harmed in the first place. The end effect will probably be even more subscribers and money for Jones which he will use with even less restraint since he knows there are no consequences.…
Earlier quoted context omitted.
How can any entity related to Alex Jones be allowed to buy the InfoWars assets?
In the same way non-corporate 'entities' related to Alex Jones don't owe his debts. If there's a company of which he's a minority owner, they could decide to buy it, and it would be like his brother buying it.
Earlier quoted context omitted.
It only archived part of the article. They want a logged-in user to avoid the paywall.
From Bluesky's Gift Link feed: [0] https://www.nytimes.com/2024/12/10/business/media/the-onion-... [0] https://bsky.app/profile/davidsacerdote.bsky.social/feed/aaa...
Earlier quoted context omitted.
I haven't seen the filing, but I presume you mean that X filed saying that they own the accounts, right? I don't get why people conflate Elon Musk with the companies that he runs. I imagine he has controlling stakes in all of them, but for the most part he's probably not even a majority shareholder in most of the companies he's running.
Because X is purely a platform to do whatever Elon wants. It’s so blatantly obvious that this decision came from Musk even if it was delivered indirectly.
Earlier quoted context omitted.
Isn't it a little strange, though, that the system notionally decided that the families are owed an enormous amount of economic power as compensation for the nasty behavior of Alex Jones' media company, but at the same time it's obliging them not to use that economic power to prevent the sale of the media company to a "new owner" still affiliated with an unrepentant Alex Jones, who will undoubtedly continue the nasty…
They have a debt judgement not economic power. They can sell that debit judgement to a company who collects. They can take the money from the result of the court process and try to buy infowars after this is all over. They don't have a judgement of ownership in infowars they have a debt and the court is forcing Alex to sell all assets to cover the debt. Then the rest is written off and he gets a black mark on his cre…
This is absolutely true. Other media people that lost their job or channel, handle on various platforms, typically refresh to the same number of followers within a year or two.
Earlier quoted context omitted.
Isn't it a little strange, though, that the system notionally decided that the families are owed an enormous amount of economic power as compensation for the nasty behavior of Alex Jones' media company, but at the same time it's obliging them not to use that economic power to prevent the sale of the media company to a "new owner" still affiliated with an unrepentant Alex Jones, who will undoubtedly continue the nasty…
They have a debt judgement not economic power. They can sell that debit judgement to a company who collects. They can take the money from the result of the court process and try to buy infowars after this is all over. They don't have a judgement of ownership in infowars they have a debt and the court is forcing Alex to sell all assets to cover the debt. Then the rest is written off and he gets a black mark on his cre…
It's a chapter 7 bankruptcy, the bankruptcy estate already owns the infowars assets.
> There are rules around this process for a reason. If you allowed someone who has a debt judgement to just take over a company what is it's true value. Alex could try to value infowars at a trillion. So they put it up for an auction to get the real value. That's the fairest way for all cases.
Specifically, the reason is protecting minority and junior creditors (including the debtor when assets are in excess of debts). If nobody offered up enough cash to pay off the debts in full and there is only one creditor who would rather have the business than the best cash offer, I don't think there'd be any reason for the courts to object. The big issue is, again, minority creditors getting less than their "fair share" of the assets, along with over-compensating senior claims with junior ones outstanding.
Neither are at issue here - The Onion's offer paid more cash to the minority creditors, the majority creditor opted into the deal, and the assets are clearly worth less than the debts.
It is clear that Jones and his relatives have moved money and assets around in order to shield them from the verdict. Now, money that should have been already given to the victims is being used to steal back the megaphone that caused harmed in the first place. The end effect will probably be even more subscribers and money for Jones which he will use with even less restraint since he knows there are no consequences.…
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It is clear that Jones and his relatives have moved money and assets around in order to shield them from the verdict. Now, money that should have been already given to the victims is being used to steal back the megaphone that caused harmed in the first place. The end effect will probably be even more subscribers and money for Jones which he will use with even less restraint since he knows there are no consequences.…
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