Liberty Media Acquires Atlanta Braves From Time Warner: Report

The WSJ is reporting that a deal in the works for more than a year has finally concluded with an agreement for the former to acquire the Atlanta Braves. It’s a typically complex deal — similar to the one Liberty and News Corp. recently crafted designed to limit taxes while slimming down Liberty’s stake in TW. The Journal reports that Liberty will swap nearly one third of its TW stake for the Braves (valued at about $460 million), $1 billion in cash and Time Inc’s Leisure Arts craft magazines. The Braves change in ownership requires MLB approval.
Related:
Liberty Media To Swap News Corp. Shares For DirecTV Control, Three Regional Sports Nets, Cash

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