Infowars founder and owner Alex Jones has agreed to relinquish control of the controversial company as he continues to liquidate assets in an attempt to pay the more than $1.5 billion he owes to families of the victims of the Sandy Hook mass shooting.
In a nearly two-hour broadcast Saturday, Jones claimed the “deep state” attempted to take control of the company against his wishes. He claimed the company was “under attack” from outside forces.
His lawyers made a legal filing Thursday that said there was “no reasonable prospect for a successful reorganization” of his company, according to CNN’s Oliver Darcy.
Lawyers representing the families of the Sandy Hook victims claimed the decision by Jones’ legal team to admit as much would ultimately lead to Jones selling the company he founded in the late 1990s.
While Alex Jones has not had control over Free Speech Systems — the parent company to Infowars — due to its own bankruptcy proceedings, lawyers shared that the move will move things along in the process.
“Converting the case to Chapter 7 will hasten the end of these bankruptcies and facilitate the liquidation of Jones’s assets, which is the same reason we have moved to convert his company’s case to Chapter 7,” Chris Mattei, an attorney for some of the Sandy Hook families, said.
The next hearing is scheduled for Friday, June 14th.
