On Nov . 3, Union Pacific said that it would not use a voting trust to get its deal approved by Santa Fe shareholders.
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Anticipating FTC objections, the two companies earlier agreed to place the shares in a blind voting trust controlled by Time Warner Chairman Gerald Levin.
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So Liberty has agreed to put its Time Warner stock into a voting trust after the merger, and hand the authority to Time Warner.
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In such cases the FCC approves the transfer of stations into a voting trust and the transfer process is shortened to roughly one month.
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The FCC's comment period on the WorldCom voting trust will start three days after WorldCom's offer is declared effective by the Securities and Exchange Commission.
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In 1910, Storrow led a group of financiers organized as a voting trust who wrested control of General Motors from that corporation's founder Billy Durant.
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Tele-Communications has already agreed to place its Time Warner shares in a voting trust to be controlled by that company's chairman, Gerald M . Levin.
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And a voting trust for Greenfield is run by a group that includes Owen Wincig, son of Bernard Wincig, a director of Jennifer and controlling shareholder.
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Those shares would then be held in a voting trust, where they would remain until " other conditions, " including approval by the ICC, were met.
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"Lord Black further advised that the proposed voting trust would then remain in effect until all significant litigation involving him is resolved, " the company added.
