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CBS Firesale...

S

SmokeRing

Guest
... has begun. CBS paid $90 Million for KTSA/KTFM, and they just sold it for $45 Million.

Doesn't fit David Eduardo's script, but facts are facts.
 
Yep Border Media took them. Poor KTSA such a legendary station and a great area coverage. BM will probably opt for more cheap programming.
 
Re: CBS Firesale...Hey Dave Eduardo:

If Infinity paid Waterman 90 million dollars for KTSA/KTFM, and sold the stations to BMP for 45 million,
how much capital gains tax will they have to pay on the transaction?

(Sorry, I just couldn't resist.)

g
 
Ben Bradshaw said:
I'm sure they can take the loss and amortize it over many years.
Click to expand...

Unless things have changed or they get preferential treatment for selling to a minority (not sure if that option's available), they can only carry the capital loss forward over either three or five years. Only individuals can carry a capital loss forward indefinitely.
 
Kent said:
Unless things have changed or they get preferential treatment for selling to a minority (not sure if that option's available), they can only carry the capital loss forward over either three or five years. Only individuals can carry a capital loss forward indefinitely.
Click to expand...
I never said indefinitely. I said several years. I'd call three to five years "several." :)
 
Ben Bradshaw said:
I never said indefinitely. I said several years. I'd call three to five years "several." :)
Click to expand...

No, you said "MANY" years. I wouldn't call 3-5 years "many years." However, I would agree with your corrected statement. They can, and probably will, carry it forward for a few years, unless they have a huge capital gain somewhere as capital loss can cancel out up to the same extent of capital gain. Individuals can also use capital loss to cancel out up to $3,000 of ordinary income/gain, but I'm thinking corporations can't do the same. It's been about three years since I had tax law. I'm sure the losses from their sales this week aren't quite as bad as they look because they probably had some capital gains (as well as a few capital losses, like Memphis) from their sales to Entercom.
 
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