Time Warner Spinoff of Time Inc.
On June 6th, Time Warner, Inc. performed a spinoff of Time, Inc.
Time Warner shareholders received one share of Time, Inc. common stock for every eight shares of Time Warner common stock held as of May 23rd, 2014
This is a common spinoff.
For general information on spinoff transactions in myICLUB.com, see our FAQ at: https://www.iclub.com/faq/Home/Article?id=54
Except where otherwise noted, the information listed below is taken from the Tax Basis Information found in the Investor Relations area of the Time Warner site.
- Spinoff date: 06/06/14
- Shares received in Time, Inc., including any fractional shares
- Total shares of Time Warner divided by 8
- Cash received
- From the broker statement
- Time, Inc. Price per share: 23.30
- Even though the club is not charged for the new company, you MUST enter a price per share, so the program can correctly calculate the value of the stock.
- Old Security Price, or Remaining Basis Percentage of Parent Company:
- While you can use the Parent price per share (68.99), we suggest to use the Remaining Basis Percentage (95.95), so it is easier to see how the cost basis is allocated from the parent company to the new stock.