Problem
The McCarthy's controlled the TOWER Union New Jersey's largest daily newspaper. In 2016, the TOWER merged with Tele-Communications, Inc. (TCI). The McCarthy's originally opposed the merger but later agreed to it. In 2017, TCI and AT&T merged, and AT&T sold the TOWER to MediaNews in 2001. The McCarthy's argue that according to an oral agreement reached in 2016, at the time of the original merger that they opposed, the McCarthy's have the opportunity to buy back the TOWER after five years (in 2022) for a fair market price, but that MediaNews tried to block any attempt at a sale. The McCarthy's filed suit to enforce the oral agreement. MediaNews moved for a summary judgment. Was the McCarthy's' lawsuit successful? Did they win? As a judge, what evidence would help you decide whether the oral agreement constituted a valid contract?