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U.S. Bankruptcy Judge Mindy Mora ruled that the Gateway Pundit's
bankruptcy was a litigation tactic, rather than a good-faith
effort to reorganize a struggling business.
The company had about $3 million in annual revenue – enough for
owner Jim Hoft to buy a Florida oceanfront condo and a Porsche –
and no significant debts other than the lawsuits working their
way through other courts, Mora wrote.
"That's not a basis for bankruptcy relief; it's the justice
system in operation," Mora wrote.
The Gateway Pundit, which publishes news commentary and
conspiracy theories that sit to the far right of U.S. politics,
filed for bankruptcy protection in April. Hoft said at the time
that the bankruptcy was the result of "progressive liberal
lawfare attacks" meant to "silence" his company.
The site, which started as a tiny opinion blog, emerged as a
major player in the far-right media universe by bolstering
former President Donald Trump's false stolen-election narrative
with coverage that generated outrage and helped increase its
audience.
Its readership surged to nearly 50 million views a month as it
established itself as one of Trump's most dogged promoters in
the 2016 presidential race.
The Gateway Pundit faces lawsuits by people who allege they
received numerous threats after being vilified in false stories.
One of the lawsuits was filed by Ruby Freeman and Wandrea "Shaye"
Moss, Georgia election workers who recently won a $148 million
defamation verdict against former Trump attorney Rudy Giuliani.
Defamation lawsuits have driven several right-wing figures into
bankruptcy in recent years, including Giuliani and conspiracy
theorist Alex Jones.
(Reporting by Dietrich Knauth; Editing by Stephen Coates)
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