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Who Owns InfoWars? A Texas Receiver Still Controls the Unsold Assets

May 12, 2025•9 min read•

Quick Answer

No one has bought InfoWars. As of August 2026 the assets still sit inside Free Speech Systems LLC, and since August 2025 they have been under the control of a Texas court‑appointed receiver, Gregory Milligan, whose job is to sell them to pay the Sandy Hook families. firstamendmentwatch.org

The Onion's parent company, Global Tetrahedron, has been trying to acquire the brand since 2024 and relaunched a parody version of the site on 2 July 2026 – but it does so under a proposed licence that is still being fought over in court, not as the owner. In late April 2026 Texas's 3rd Court of Appeals sided with Alex Jones and sent the matter back to the trial court. kut.org kut.org

Table of Contents

Key Takeaways

  • Alex Jones founded InfoWars in 1999 and ran it through Free Speech Systems LLC, which is still the entity that holds the assets.
  • Free Speech Systems filed for bankruptcy in July 2022; Jones filed personally that December.
  • In June 2024 a bankruptcy judge allowed Jones's personal assets to be liquidated and threw out the attempted reorganisation of Free Speech Systems, pushing the fight back into the state courts.
  • In August 2025 Texas judge Maya Guerra Gamble appointed receiver Gregory Milligan to take over and sell the InfoWars assets for the Sandy Hook families.
  • The Onion's parent, Global Tetrahedron, won a contested 2024 bankruptcy auction that a judge then rejected, and in April 2026 proposed an $81,000‑a‑month licence instead. That deal has not been finally approved; The Onion relaunched the site anyway on 2 July 2026.
  • Jones has no editorial control over the site, but the sale that would formally transfer ownership has not happened.

How InfoWars Began

To understand who owns InfoWars, you have to go back to the late 1990s. In 1999, Texas radio host Alex Jones—already known locally for promoting Y2K conspiracies—registered the InfoWars.com domain. Initially a hobby site posting documentary videos, it ballooned into a full‑blown media operation streaming daily talk shows from studios outside Austin, Texas.

Jones never took outside investment or went public. Instead, he folded the website and its broadcast operations into a private holding company—Free Speech Systems LLC—created in 2011. That structure let him maintain 100 percent voting control while shielding personal assets.

Throughout the 2000s and 2010s, InfoWars became one of the internet's most‑visited fringe‑news outlets, at times drawing 10 million monthly visitors—out‑ranking brands like Newsweek and The Economist. Traffic translated into tens of millions of dollars in annual revenue, mainly from high‑margin dietary supplements hawked during shows.

Free Speech Systems LLC: The Previous Legal Owner

For most of InfoWars's history, business filings showed Free Speech Systems LLC as the owner of InfoWars trademarks, web domains, and studio equipment, with Alex Jones listed as manager and sole member — meaning equity and voting rights sat entirely with him.

  • Entity type: Limited Liability Company (Texas)
  • Registered agent: Alex E. Jones
  • Primary assets: InfoWars.com, related trademarks, the Banned.Video streaming platform, production studios and supplement inventory – all now under the control of the court‑appointed receiver rather than of Jones.
  • Scale, for context: the InfoWars store took $165 million in sales between September 2015 and the end of 2018, according to financial documents Jones produced in discovery. huffpost.com

Because FSS was a pass‑through entity, Jones reported profits on his personal tax return. That blurred line is precisely why plaintiffs in the Sandy Hook defamation cases targeted both Jones and FSS when pursuing damages – and why, once the bankruptcy route stalled, the families were able to go back to the Texas state court and have a receiver installed over the company's assets. courthousenews.com

Bankruptcy & Billion‑Dollar Judgments

The present‑day debate over who owns InfoWars began in 2022, when courts in Connecticut and Texas found against Alex Jones for repeatedly claiming the 2012 Sandy Hook school shooting was a hoax. A Connecticut jury and judge awarded the families and an FBI agent more than $1.4 billion; parents in the Texas case were awarded nearly $50 million. Reporting on the combined liability generally puts it around $1.5 billion. pbs.org

Facing a judgment far beyond his liquid assets, Jones put FSS into Subchapter V Chapter 11 protection on 29 July 2022, mid‑trial, and filed for personal Chapter 11 that December. Bankruptcy should, in theory, let a judge force the sale of Jones's stake in FSS – or sell FSS assets outright – to satisfy creditors. npr.org

However, restructuring requires a feasible plan. Creditors (primarily Sandy Hook families) argued that Jones's proposals were "fantasy math," while Jones insisted InfoWars must stay afloat for him to earn money to pay them. The standoff dragged into 2024–2025.

Key Bankruptcy Milestones

  • Jul 2022: Free Speech Systems files for Subchapter V Chapter 11 protection during the Texas damages trial.
  • Dec 2022: Jones files personal Chapter 11.
  • Jun 2024: Judge Christopher Lopez allows Jones's personal case to become a liquidation and throws out the attempted reorganisation of Free Speech Systems.
  • Dec 2024: Lopez rejects the auction result that had named The Onion's parent, Global Tetrahedron, the winner, saying the trustee's process “fell down” and the money on the table was not enough.
  • Aug 2025: Texas judge Maya Guerra Gamble appoints Austin‑based receiver Gregory Milligan to take over and sell Free Speech Systems' assets.
  • Apr 2026: Global Tetrahedron files a proposal to license the InfoWars domain, IP and studios for $81,000 a month for six months, renewable once.
  • Late Apr 2026: Texas's 3rd Court of Appeals sides with Jones and sends the case back to the trial court.
  • Jul 2026: The Onion relaunches InfoWars as a parody site while the acquisition is still unresolved.

From Blocked Auction to Receivership to The Onion

The most headline‑grabbing twist in the saga of who owns InfoWars came in late 2024, when satirical news outlet The Onion partnered with Sandy Hook families to bid for the site. Their goal: turn InfoWars into a parody hub to counter misinformation. The trustee valued Global Tetrahedron's bid at $7 million in all – a mix of cash and a pledge by some families to forgo their share of the proceeds – against $3.5 million in straight cash from First United American Cos., a rival bidder associated with Jones. In December 2024 Judge Christopher Lopez refused to approve the sale: “I don't think it's enough money … I'm going to not approve the sale.” nbcnews.com

The path forward came not from bankruptcy court but from state court. In August 2025 Judge Maya Guerra Gamble in Austin appointed receiver Gregory Milligan to take possession of and sell Free Speech Systems' assets, giving the company five days from service of the order to hand them over. firstamendmentwatch.org

In April 2026 Global Tetrahedron proposed a licence rather than a purchase: $81,000 a month for six months, renewable for six more, covering the InfoWars website and intellectual property plus rent, utilities and studio costs, with proceeds going to the Sandy Hook families. pbs.org

That proposal has not been finally settled. Texas's 3rd Court of Appeals sided with Jones in late April 2026 and sent the case back to the trial court. The Onion relaunched InfoWars as a parody on 2 July 2026 regardless – with Tim Heidecker fronting it and a $100,000 pledge to the Sandy Hook families – while chief executive Ben Collins said the company had “too much to do to wait around”. kut.org

Revenue Streams & Why Ownership Matters

Ownership isn't just a legal formality; it decides who controls the cash spigot that keeps InfoWars broadcasting.

  • Supplements and prepper gear – the dominant line. Court documents produced by Jones in discovery showed the InfoWars store took $165 million in sales between September 2015 and the end of 2018.
  • Advertising and sponsorship – mostly direct‑response deals with firearm‑accessory brands and prepper retailers.
  • Subscriptions – the Banned.Video paywall and membership tiers.
  • Merchandise and viewer donations, including periodic "money‑bomb" fundraisers.

No audited breakdown of these revenue lines has been published. The percentages sometimes quoted online are not drawn from any filing, so we do not repeat them. huffpost.com

Whoever ends up owning InfoWars calls the shots on which products are pushed, what editorial lines are drawn, and – crucially – whether the site continues at all. The receiver's mandate is to convert the assets into money for the Sandy Hook families, which is why the fight over a sale price has mattered more than the fight over editorial direction.

What's Next Under The Onion

The Onion has relaunched InfoWars as a parody of itself – a satirical inversion of the conspiracy machine Jones built – with Tim Heidecker as its on‑air face. Whatever the operation earns is meant to flow to the Sandy Hook families under the Texas receivership. But the underlying transfer of the brand has not been completed, and the appellate ruling in April 2026 left the licence arrangement unresolved. Alex Jones no longer runs InfoWars and has continued broadcasting from a separate platform, but a court has yet to hand ownership to anyone else. kut.org

FAQ: Your Top Questions Answered

1. Who owns InfoWars in 2026?

Free Speech Systems LLC still holds the assets, but they are controlled by a Texas court‑appointed receiver who is charged with selling them for the Sandy Hook families. The Onion's parent, Global Tetrahedron, operates a relaunched parody site but has not completed a purchase.

2. Did The Onion really buy InfoWars?

Not yet. Its 2024 auction win was rejected by a bankruptcy judge, and its April 2026 licensing proposal was still being litigated when Texas's 3rd Court of Appeals sent the case back to the trial court. The Onion relaunched the site in July 2026 anyway, without owning it.

3. Does Alex Jones still control InfoWars?

No. He retains no equity, no domain ownership, and no editorial control. He continues broadcasting under separate ventures.

4. Is InfoWars profitable?

The last well‑documented figure is the $165 million the InfoWars store took between September 2015 and the end of 2018. No audited profit figure for the years since has been made public, and the business has been through bans, a bankruptcy and a receivership in the meantime.

5. Will the Sandy Hook families ever collect?

They are the intended beneficiaries of whatever the receivership realises, but the sums involved are nowhere near the judgments. The best bid the bankruptcy auction produced was valued at $7 million against liabilities reported at roughly $1.5 billion.

Bottom Line

So who owns InfoWars? The honest answer in August 2026 is that nobody new does. Billion‑dollar judgments, a thrown‑out bankruptcy auction, a Texas receivership, a contested licence and an appellate reversal have left the assets inside Free Speech Systems, under a receiver's control, with The Onion running a parody version of the site while the courts work out who may buy it. houstonpublicmedia.org

Bookmark this page; we update it whenever the legal landscape changes so you always know who owns InfoWars.