September 28, 2005
Tax Court Recharacterizes Matthew Bender Reorganization as Taxable Sale to Reed Elsevier
The Tax Court held yesterday, in Tribune Co. v. Commissioner, 125 T.C. No. 8 (9/27/05), 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. TaxProf Blog has the details.
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