The subsidiary does not recognize gain on the distribution of any appreciated assets to the parent, which is an exception to the general rule of Section 311(b) that treats a corporate distribution of appreciated assets as a sale.

FORBES: Tax Court Holds S Corporation Shareholders Liable for $30 Million Tax Deficiency

Strictly speaking, a spinoff is the gratis distribution of all the shares in a subsidiary to shareholders of the parent.

FORBES: A Different Spin

"We have this theory that if we get content on multiple platforms and devices, it gives kids and families a chance to reinforce and experience the curriculum multiple times, " says Terry Fitzpatrick, executive vice president of content and distribution for Sesame Workshop, who emphasizes videos are best co-viewed with child and parent.

NPR: 'Sesame Street' Nears 1 Billion Views On YouTube