To carry out the planned merger of their media operations, AT&T Inc. and Discovery Inc. proposed a tax-advantaged transaction known as a Reverse Morris Trust. This route can be attractive to highly leveraged corporations such as AT&T, the world’s most heavily indebted nonfinancial company. The goal is for AT&T and its shareholders to see no tax on gains from the deal.
Lydia O'Neal is a Senior Correspondent for IBT Media and Bloomberg News. With a background in reporting for Capitol Forum and The Wall Street Journal, Lydia covers a wide range of topics including business, taxation, and policy. Her work provides insightful analysis and reporting on the intersection of politics and economics.