Time Warner Inc. will sell the Atlanta Braves to Liberty Media Corp. The team has been valued at $450 million. Most of the top Braves team management is expected to stay on post-sale.
The Wall
Street Journal reports that TW will transfer the team, a group of craft mags and $1 billion in cash to Liberty in exchange for 60 million shares of Time Warner. On Monday, when the deal was
finalized, the value of the shares was approximately $1.27 billion.
