The Sandy Hook plaintiffs are owed $975 million. They are supporting the Onion’s bid by pledging as much of that as necessary to beat the opposing bid (remember, they have rights to most of the auction proceeds).
An analogy: you put something on eBay, and then decide you want to keep the item for yourself. You can easily outbid anyone else, because in the end you are (mostly) paying yourself. The only question is how much eBay’s tiny cut will be.
Well, Sandy Hook plaintiffs are basically putting Infowars on eBay but determined to win the auction. The winner of the auction is a foregone conclusion, so the only question is what small cut some other folks are going to get.
Because there remains an unanswered question: what small cut some other folks are going to get.
The only way to answer that is with an auction. Just like in the above analogy, the only way to determine your eBay fees is to actually have an eBay auction.
And they did have an auction, but the presiding judge didn’t like the auction rules. They can change the rules and thus change the cut, but the winners won’t change.
The Sandy Hook plaintiffs are owed $975 million. They are supporting the Onion’s bid by pledging as much of that as necessary to beat the opposing bid (remember, they have rights to most of the auction proceeds).
An analogy: you put something on eBay, and then decide you want to keep the item for yourself. You can easily outbid anyone else, because in the end you are (mostly) paying yourself. The only question is how much eBay’s tiny cut will be.
Well, Sandy Hook plaintiffs are basically putting Infowars on eBay but determined to win the auction. The winner of the auction is a foregone conclusion, so the only question is what small cut some other folks are going to get.
Then the question is, why weren’t they just given full contol of the infowars business in the first place if that’s what they really wanted?
Because there remains an unanswered question: what small cut some other folks are going to get.
The only way to answer that is with an auction. Just like in the above analogy, the only way to determine your eBay fees is to actually have an eBay auction.
And they did have an auction, but the presiding judge didn’t like the auction rules. They can change the rules and thus change the cut, but the winners won’t change.