Reorganization?

[Jeremy <jwarren@eecs.tufts.edu>]

Can someone shed some light on this for me?  It sounds like they are
reorganizing in order to be taxed.  What would happen if they didn't
reorganize?  (Kim, Theresa, anyone with some business sense)

Jeremy


* BOSTON CELTICS INC, the general partner of Boston Celtics LP,
  said late Friday that it has approved a plan to reorganize into a
  partnership taxable as a corporation and private partnership,
  prior to the expiration of the partnership's exemption from
  corporate income tax. The primary objective of the reorganization
  is to address taxation issues, while permitting existing public
  shareholders of Boston Celtics L.P. unites to maintain a
  proportionate investment in the basketball team and the
  partnership's other assets in either a public or private entity.
  (Reuters 05:13 PM ET 04/17/98) For the full text story, see
  http://www.infobeat.com/stories/cgi/story.cgi?id=2553777853-757