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Braves sale goes through pending owners approval
2007-02-12 17:30
by Bob Timmermann

According to the Wall Street Journal and picked up by the Associated Press, the Time Warner has finalized a deal with Liberty Media to sell the Atlanta Braves.

The price of the Braves is not determined at this time since it is part of large sale and stock swap between the two corporations.

According to Tim Tucker's article in the Atlanta Journal-Constitution:

Under federal tax law, the inclusion of an operating asset -– the Braves –- in the deal can make the transaction tax-free, potentially saving Liberty hundreds of millions of dollars in capital gains tax on the appreciation of its Time Warner stock.

2007-02-12 18:05:23
1.   Sam DC
Apparently, the key to the deal is the goodwill value of the Tomahawk Chop.
2007-02-12 21:10:56
2.   dickbaveta
Does Liberty Media not have a controlling interest in DirectTV? Does anyone not see the company that owns the Extra Innings package owning a team as a potential problem?
2007-02-12 21:32:10
3.   Bob Timmermann
Baseball has already survived the ownership by media companies like Time Warner, Tribune, and Fox as well as teams like the Yankees and Red Sox owning their own networks.
2007-02-13 06:47:01
4.   rbj
Way back when (1960s, IIRC) CBS owned the Yankees -- and basically ran them into the ground.
2007-02-13 11:18:09
5.   Jacob L
Way back when ([insert era]) [insert major media company] owned the [insert ballclub] -- and basically ran them into the ground.
2007-02-13 12:27:51
6.   misterjohnny
Liberty doesn't own controlling interest in Directv yet. A deal has been struck and it will likely close sometime in the summer, after FCC and DOJ approvals.

I don't think Liberty wants or needs the Atlanta Braves. It was just a way to make the deal tax free, and Time Warner really didn't want the Braves anymore. I'm sure Liberty will start shopping the Braves as soon as they can. They don't have to sell, but they are more like a mutual fund than anything else. The only thing they own 100% of is Starz movie channel. They aren't operators, they are deal guys.

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