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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 ...
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 ...
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.
CBS Corporation unveiled plans to merge its CBS Radio division with Philadelphia-based Entercom, giving that company 244 stations and national reach across major markets, including CBS Sports Radio and News Radio, in a tax-free deal to CBS shareholders through a complex process known as a reverse Morris trust, which begins with an offer to ...
"Wolfstar" is the paired-ship name between the Harry Potter characters Remus Lupin and Sirius Black. [4] In 2011, David Thewlis, the actor for Lupin on screen, stated in an interview for Harry Potter and the Deathly Hallows – Part 1 that he was told by, Alfonso Cuarón – the director of Harry Potter and the Prisoner of Azkaban – "in the rehearsals, without J.K. Rowling's knowledge, that ...
Sirius Black is a fictional character in the Harry Potter series of novels by J. K. Rowling. Sirius was first mentioned briefly in Harry Potter and the Philosopher's Stone as a wizard who lent Rubeus Hagrid a flying motorbike shortly after Lord Voldemort killed James and Lily Potter .