IRS gave its blessing to News Corp.’s planned purchase of broadca...
IRS gave its blessing to News Corp.’s planned purchase of broadcaster Chris-Craft Industries and 2 related companies, issuing favorable tax ruling on deal Wed. Ruling allows purchase to proceed as tax-free transaction for stockholders of Chris- Craft, BHC Communications,…
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United Television (UTV). But deal, which calls for News Corp. to buy 3 companies and 10 major-market TV stations that they control, still needs approvals from stockholders, FCC, others. Chris-Craft, BHC and UTV have scheduled separate stockholder votes for April 24.