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.
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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.