Tribune Co.: $880 million? No problem
Or at least that’s what CEO Dennis J. FitzSimons claimed, in essence, today in a company-wide email about last week’s Tax Court verdict decreeing that the company owed about a billion dollars in taxes stemming from the Times Mirror acquisition. The company paid the $880 million federal portion of the tax assessment and hey, Tribune stock is rising again!
On Friday we made the $880 million federal portion of the required tax payment. Funding came primarily from the issue of short-term debt.
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