Infowars Sale to The Onion Rejected by Federal Bankruptcy Judge
www.nytimes.com
The Onion’s bid for the conspiracy website was supported by the families of victims of the Sandy Hook shooting and a nonprofit focused on ending gun violence.

“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.

  • ricecake@sh.itjust.worksEnglish
    31·
    9 hours ago

    Sealed buds are usually better for that.

    https://www.investopedia.com/terms/s/sealed-bid-auction.asp

    Each party is incentivised to make the highest offer they’re willing to pay from the beginning, as opposed to negotiating the best price they can get.

    Additionally, the families forgiving a significant amount of money as part of the bid should factor in, since the responsibility of the estate is to get the best deal, not the most cash.