The right-wing conspiracy theorist has not yet paid any of the more than $1b in damages he owes Sandy Hook families.
He petitioned the court to put the judgment on pause and consider his appeal as he works to keep Infowars from being sold to The Onion.
Judge Christopher Lopez ruled that an auction for Infowars did not result in the best bids possible.
Infowars was auctioned as part of a defamation ruling after Jones falsely called the Sandy Hook School shooting a hoax.
The conspiracy theorist used his website to peddle false claims about the Sandy Hook shooting.
But a bankruptcy judge spares Infowars from being liquidated to pay the broadcaster's $1.5bn defamation debt.
Around 60 students who witnessed the killing of their classmates will receive their diplomas.
"What if they were able to walk the stage with me?" wonders one teenage survivor of the 2012 shooting.
Conspiracy theorist Alex Jones has asked a Texas court to allow him to liquidate his assets as part of bankruptcy proceedings.
