Liberty Media has the potential to create a spinoff of its sports assets, thanks to a string of recent moves.
The parent company of the Atlanta Braves and Formula One gained financial flexibility after selling 5.3 million of its Class A Liberty Sirius XM Group (NASDAQ: LSXMB) shares of trading stock ($50.02 per) to Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) earlier this month. Buffett’s holding company increased its stake in the $267 million deal and now owns nearly 20% of Liberty Sirius XM Group.
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