Entertainment Company Needs Cause to Avoid Paying Interest in Disputed Acquisition

, Delaware Business Court Insider


The entertainment company that holds the rights to "American Idol" and other television programs involved in litigation over a possible acquisition cannot order the challenging shareholder to accept the undisputed portion of its potential purchase price, the Delaware Court of Chancery has ruled. The court held the company did not meet the "good cause" standard necessary to order the stock owner to agree to a partial sales price, thereby stopping the entertainment company's accrual of interest.

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