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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 ...
[15] [16] AT&T and Discovery officially confirmed the agreement the next day; the merger would be structured as a Reverse Morris Trust, with AT&T shareholders holding a 71% interest in the new company's stock and appointing seven board members, and Discovery shareholders holding a 29% interest and appointing six board members. AT&T would ...
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 ...
The sources said that the companies are discussing structuring the deal as a so-called Reverse Morris Trust, which provides tax benefits by spinning off an asset before it's combined. Blo.
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 ...
Under the terms of the Reverse Morris Trust, the company would retain the Entercom name, board of directors and base of operations, but CBS shareholders would hold 72% of its stock. [33] The company also shut down KDND in Sacramento and returned its license to the FCC, with its programming moved to sister station KUDL. The FCC had designated ...