Liberty Media completed the spin-off Atlanta Braves.

Liberty Media, a high-quality portfolio of assets across the media, communications and entertainment industries, completed the spin-off Atlanta Braves, an operator of a professional baseball team. Financial terms were not disclosed. “We plan to split off the Atlanta Braves into an asset-backed stock to better highlight its strong value. Additionally, post Split-Off, we plan to recapitalize all of Liberty Media’s remaining common stock into three tracking stock groups. These actions will provide greater investor choice and enable targeted investment and capital-raising through more focused currencies, while maintaining an optimal capital structure for Liberty Media and preserving optionality with respect to our subsidiary SiriusXM and our Live Nation stake," Greg Maffei, Liberty Media President and CEO.