3 ms·
> I’m really not sure why the creditors in this case did a shady no bid deal… The reason is because there were two civil judgements against Alex Jones to satis
by austin-cheney 2y ago
> I’m really not sure why the creditors in this case did a shady no bid deal…
The reason is because there were two civil judgements against Alex Jones to satisfy with the second judgement being about 27x larger than the first. As a result, it is mathematically impossible to run an auction that triggers an outcome large enough to satisfy both judgements proportionally and positively. Many members of the second judgement decided to forego any winnings from this auction so as to satisfy the first judgement positively on the condition they would earn a share of ad revenue from the intellectual property in the future. Their primary motivation was not ad revenue or any other form of income, but instead ensuring the concerned intellectual property rests with an owner not friendly to Alex Jones.
That is the reason the Onion won the auction despite offering the lower of two bids, because the larger bid did not positively satisfy the parties to the first judgement.