Liberty plans to launch tracking stock for the Atlanta Braves Major League Baseball team

Liberty Media Corp.
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-1.51%
LSXMB,
-2.73%
LSXMK,
-2.03%
BATRA,
+6.45%
BATRK,
+7.12%
FWONA,
-1.50%
FWONK,
-1.84%
said Thursday it plans to split off the Atlanta Braves and its real estate projects into a new entity called Atlanta Braves Holdings Inc. It will also create the new Liberty Live Group tracking stock. The media company will recapitalize all its Liberty Media remaining common stock into three tracking stock groups. Liberty Media Group CEO Greg Maffei said the actions will provide more choice for investors and enable 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.” Shares of Liberty Media Corp.’s Series A stock are down 12.9% in 2022 compared to a 16.9% drop by the S&P 500
SPX,
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