Morgan Lewis on Media: Fall 2004

In this Issue:

• The Tax Treatment of Prepaid Subscription Income:
  The tax treatment of prepaid subscription income is an aspect of acquisitions and restructurings of publishing operations that presents potentially significant and often overlooked tax planning opportunities and pitfalls. Without proper planning, sellers seeking capital gain treatment may trigger ordinary income, purchasers may be forced to deduct future operating costs over an extended period of time, and internal and joint venture restructurings that are intended to be tax-free may be subject to current tax.
• Media Contacts
• Editor's Note:
  What "Full Service" Means For Our Media Clients

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