Alex Jones’ Quest for Redemption: Seeking Court Approval to Sell InfoWars and Compensate Sandy Hook Families
Alex Jones has requested permission from a bankruptcy court to sell most of his assets, including the media empire of the conspiracy theory InfoWars, in order to pay the approximately $1.5 billion he owes to the families of the people who died in the 2012 massacre at Sandy Hook Elementary School, according to a report on Friday.
Free Speech Systems, the company founded by Jones that runs InfoWars, previously filed for Chapter 11 bankruptcy after the conspiracy theorist lost a defamation lawsuit filed by the families he defamed. However, the filings this week seek to reorganize Jones and Free Speech Systems’ filings into a Chapter 7 liquidation, according to the AP.
Liquidation Process
The families of the victims accepted the terms of the settlement on Friday afternoon, but a judge still needs to approve the process. The families had rejected previous terms because they would have allowed Jones to maintain control of InfoWars.
Jones, who had described the Sandy Hook shooting that killed 20 children and six adults as a “hoax” with “actors,” appeared to force out some tears on his program last week. Jones was upset about having to sell his $2.8 million ranch to help pay what he owed to the families. But the tougher road for Jones may lie ahead as he tries to liquidate nearly everything except his primary home in Texas.
Potential Future Scenarios
Jones was previously banned from X before it was bought by billionaire Elon Musk, but was later reinstated, providing a social media outlet for his wild ravings. All other major social media platforms have banned the conspiracy theorist, but if Jones loses InfoWars, he could still start fresh with a new brand on X and build something new from scratch.
Or, in an even more outlandish hypothesis, InfoWars and Free Speech Systems could be sold to someone ideologically aligned with Jones, who would then simply reinstate him as the centerpiece of the entertainment.
The Associated Press explains that this latest move to convert Chapter 11 into Chapter 7 only comes after failed negotiations with the families:
Jones had offered a bankruptcy reorganization plan that would have allowed him to continue operating Free Speech Systems and InfoWars while paying the Sandy Hook families a minimum total of $55 million over 10 years. Before that proposal, the families had offered to settle their debt for a minimum of $85 million.
As AP notes, Free Speech Systems currently has 44 employees and approximately $4 million in cash available. The business generated around $3.2 million in revenue last April and had expenses totaling around $1.9 million, according to AP.
A bankruptcy court hearing is scheduled for June 14, when we will presumably learn more about the potential liquidation of the assets so near and dear to Jones’ heart.
