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KSWO TEL. CO., INC. v. KFDA OPERATING CO.

No. 05-12-00386-CV.

442 S.W.3d 695 (2014)

KSWO TELEVISION CO., INC., Panhandle Telecasting Limited Partnership, Midessa Television Limited Partnership, Centex Television Limited Partnership, Adelante Television Limited Partnership, and Midessa Broadcasting Limited Partnership, Appellants v. KFDA OPERATING COMPANY, LLC, KFDA License Company, LLC, KSWO Operating Company, LLC, KSWO License Company, LLC, KXXV Operating Company, LLC, KXXV License Company, LLC, KWES Operating Company, LLC, KWES License Company, LLC, KKTM Operating Company, LLC, and KKTM License Company, LLC, Appellees.

Court of Appeals of Texas, Dallas.

Rehearing Overruled September 19, 2014.

Attorney(s) appearing for the Case

Amy Bowen , William V. Dorsaneo III , Joseph C. Edwards , Robert B. Gilbreath , Stephen S. Mars , Dallas, for Appellants.

John Eric Gambrell , for Appellees.

Before Justices MOSELEY, LANG, and BROWN.

OPINION

Opinion by Justice MOSELEY.

Appellants1 are the Sellers under an asset purchase agreement and appellees2 are the Buyers. The question presented is, under the terms of the asset purchase agreement and Delaware law,3 who is entitled to the escrow money when the sale failed to close? The Sellers contend the Buyers manufactured a reason to terminate the agreement after...

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