Monday, October 3, 2005
Last week, we blogged the Tax Court decision in Tribune Co. v. Commissioner, 125 T.C. No. 8 (9/27/05), which held that the divestiture of the Matthew Bender Publishing Co., and its 50% interest in Shepard's-McGraw Hill, was not a tax-free reorganization and instead was a taxable sale to Reed Elsevier for $1.375 billion. Andrew Mitchel has posted some very helpful charts outlining the transactions in the case.