|
|
Article: Liberty Media Corporation Announces Receipt of Private Letter Ruling Relating to Split-Off.
- Article from:
- PR Newswire
- Article date:
- October 27, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
ENGLEWOOD, Colo., Oct. 27 /PRNewswire-FirstCall/ -- Liberty Media Corporation ("Liberty Media") announced today that it has received a private letter ruling from the Internal Revenue Service ("IRS") relating to the tax treatment of the split-off of Liberty Entertainment, Inc. ("LEI"), a wholly owned subsidiary of Liberty Media, from Liberty Media (the "Split-Off"). The private letter ruling, which satisfies a condition to the completion of the Split-Off and the business combination with The DIRECTV Group, Inc. (the "DTV Business Combination") provides to the effect that (i) the Split-Off will qualify as a tax-free transaction under sections 355 and 368(a)(1)(D) of the ...