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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 ...
The company was formed by Verizon in 2009 to facilitate the planned sale of some local subsidiaries to Frontier, which was completed on July 1, 2010. The company was set up to allow for a Reverse Morris Trust merger, allowing Verizon to spin off the company to Frontier tax-free. Its primary purpose was to transfer Frontier ILEC Holdings as well ...
In 1996, Warner Bros. spearheaded the introduction of the DVD, which gradually replaced VHS tapes as the standard format for home video in the late 1990s and early to mid-2000s. [43] In 1999, HBO became the first national cable television network to broadcast a high–definition version of its channel.
On February 2, 2017, CBS agreed to sell CBS Radio to Entercom, then the fourth-largest radio broadcaster in the United States, the sale was conducted using a Reverse Morris Trust so that it would be tax-free. While CBS shareholders retained a 72% ownership stake in the combined company, Entercom was the surviving entity, separating WBZ (AM) and ...
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.
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Frank Morris: Clint Eastwood: Jesus: Jesus: Brian Deacon: Les Égouts du paradis: Albert Spaggiari: Francis Huster: The Great Riviera Bank Robbery: Ian McShane [citation needed] Meetings with Remarkable Men: George Gurdjieff: Dragan Maksimovic: The Onion Field: Karl Francis Hettinger: John Savage: Gregory Powell: James Woods: Jimmy Lee Smith ...