John Malone Liberty Media Atlanta track hallmark Warner Bros John Malone Liberty Media Atlanta

Liberty Media Is Splitting Off Atlanta Braves Into New Public Company

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John Malone’s Liberty Media is splitting off 2021 World Series champions the Atlanta Braves Baseball Club and related assets into a separate public company “to better highlight its strong value.” As part of a rejiggering of the Liberty universe, it is also creating a new tracking stock called Liberty Live to house its stake in Live Nation.

Liberty Live would join reconfigured Liberty Sirius XM and Liberty Formula One tracking stocks. These are specialized equities that highlight a specific division or segment of a business but where outside investors have little or no control.

They became big in the 1990s and have been a hallmark of Malone, a former telco and cable titan and highly regarded investor and financial engineer.

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