It was reported that the media empire of conspiracy theorist Alex Jones, Infowars, is on the verge of collapse.
An emergency court filing revealed that the company will be shut down and sold off, according to a trustee appointed by the bankruptcy court. The exact timeline for the shutdown and sale was not mentioned. The announcement was made on Sunday.
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In a statement on Sunday, Trustee Christopher Murray revealed that he has been working on a plan to wind up operations and liquidate the inventory since his appointment. It’s worth noting that the media company owned by Jones is Free Speech Systems, based in Austin, Texas.
In his plea, Murray requests the intervention of the Court to prevent a destructive monetary gain and instead, allow for a systematic process to take place.
The families of the victims of the horrific mass shooting at Sandy Hook Elementary School in Newton, Conn., filed a defamation suit against the far-right outlet, which had been accused of spreading dangerous misinformation. The tragic incident, which occurred in 2012, saw the senseless killing of 26 innocent people, including 20 children and six adult staff members.
In separate lawsuits in Texas and Connecticut, Jones, who is 50 years old, was found liable for spreading false stories on his radio and online show. He had claimed that the victims of a school shooting were actors and that the incident was a false flag attack. Jones eventually admitted in court that his claims were untrue. As a result, the families of the victims sued him and were awarded $1.44 billion in damages.
A motion was filed by a parent of a Sandy Hook victim in a Texas District Court seeking custody of all assets belonging to Free Speech Systems, which includes Infowars. This move has been met with opposition from some families who argue that it would only serve to prolong the legal proceedings.
According to Christopher Mattei, a lawyer representing Sandy Hook families from Connecticut who support the company’s liquidation, “this is exactly the unfortunate scenario that the Connecticut families wanted to prevent when we advocated for the Free Speech Systems/InfoWars case to remain under the jurisdiction of the bankruptcy court, instead of being dismissed.”
In December 2022, the Southern District of Texas Bankruptcy Court received a Chapter 11 bankruptcy filing from Jones.
Earlier this month, Jones received permission from a bankruptcy judge in Texas to liquidate his personal assets in order to pay off his debts.
During the bankruptcy hearing, lawyers informed Judge Christopher Lopez that Jones’ personal assets, which include his Texas ranch worth $2.8 million, will be considered in the proceedings. It was also noted that certain personal assets, such as his Austin home, may be exempted.
After being granted permission, he transitioned from a Chapter 11 bankruptcy to a Chapter 7 liquidation of his assets.
In court last year, Jones disclosed that he possessed around $9 million in assets. Despite his attempt to evade paying the legal judgments by filing for bankruptcy, the judge ruled against him.
According to Jones, Infowars may only be on air for a few more months.
