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Cubs Sale Funds Aren't Considered Equity, 7th Circ. Told

By Theresa Schliep (August 9, 2023, 6:59 PM EDT) -- The U.S. Tax Court was incorrect to find that Tribune Media Co. can't reduce its gains from selling the Chicago Cubs by nearly $249 million, the company told the Seventh Circuit, contending that the funds were debt and not equity as the Tax Court had concluded....

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