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A Reverse Morris Trust is used when a parent company has a subsidiary (sub-company) that it wants to sell in a tax-efficient manner. The parent company completes a spin-off of a subsidiary to the parent company's shareholders. Under Internal Revenue Code section 355, this could be tax-free if certain criteria are met. The former subsidiary (now ...
That’s a key benchmark for Reverse Morris Trust tax reasons. It means that Warner Bros. Discovery can do another significant deal two years after the close of the previous merger.
The deal, structured as a Reverse Morris Trust, would have allowed NCR to give a large chunk of the combined company t. NEW YORK (Reuters) -Cash management firm Brink's Co said on Wednesday that ...
One is Sirius XM Holdings (NASDAQ: SIRI). While Berkshire has owned the Liberty Media tracking stock since 2016, which tracked Liberty's large stake in Sirius, Berkshire has increased its bet on ...
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The day that CBS Radio's Reverse Morris Trust merger into Entercom closed in November 2017, WBMP was relaunched as alternative WNYL. On October 27, 2022, the station switched to a full-time simulcast of 1010 WINS, changing its call sign to WINS-FM.
On May 17, 2021, AT&T and Discovery, Inc. reached a definitive Reverse Morris Trust agreement, in which AT&T would spin out WarnerMedia into an independent company (unwinding the prior 2018 acquisition of the former Time Warner) that would concurrently acquire Discovery's assets, for $43 billion in cash, securities and stock plus WarnerMedia's ...
On February 2, 2017, CBS Radio announced that it had agreed to merge with Entercom, at the time the fourth-largest radio broadcaster in the United States; the sale was to be conducted using a Reverse Morris Trust so that it would be tax-free. To comply with federal ownership limits Entercom had plans to divest 14 stations.