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Inc., a New York Stock Exchange publicly traded company.2 As of
the date of decedent’s death, Capital Cities/ABC, Inc., or its
predecessor, apparently had owned these shares of TPC common
stock for at least 10 years.
During 1998 and subsequent years through the time of trial
in 2003, Holst-Knudsen was president and Jose E. Andrade was
chairman of the TPC board of directors. Both Holst-Knudsen and
Andrade are grandsons of Harvey Mark Thomas, TPC’s founder.
None of the shares of TPC common stock has ever been
publicly traded, and, in the 10 years before decedent’s death and
in the years after decedent’s death through the time of trial, no
sales of TPC common stock occurred. Also, as of May 2, 1998, no
buy/sell agreement or stockholder agreement affecting the value
of TPC common stock was in existence.
Over the years, TPC’s primary business has been the
production and sale of industrial and manufacturing business
guides and directories. TPC’s business directories provide
2 In 1996, the Walt Disney Co. (Disney) acquired Capital
Cities/ABC, Inc., for $19 billion. The TPC stockholder list in
evidence apparently does not take into account this 1996 Disney
acquisition and therefore provides the former name of this
outside TPC stockholder. Herein, we refer to this stockholder as
shown on TPC’s stockholder list.
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