End of break snags African-Americans. (tax break for minority-owned media firms)
Multichannel News, April, 1995 by Higgins, John M.
[TABULAR DATA OMITTED] A handful of cable deals that snagged when Congress terminated tax breaks for media acquisitions involving minorities are largely back on track, but the African-Americans have been cot out of the deals. The $2.3 billion sale of Viacom Cable was the largest deal to get blasted when Congress revoked the minority tax certificate program administered by the Federal Communications Commission.
But the deal also caught a number of much smaller transactions involving ventures headed up by minorities backed by major media companies that were also seeking tax breaks. Those deals were all stalled by the change in the law, but the buyers and sellers went back to the table to cut new contracts at a slightly higher price: * Time Warner...
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