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Split-Off of Atlanta Braves Holdings and Reclassification of Tracking Stock Approved at Liberty Media’s Special Meeting of Stockholders
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Media Corporation (“Liberty Media”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) and Atlanta Braves
About this update from Atlanta Braves Holdings, Inc. - Series A
[{"type":"text","content":" ENGLEWOOD, Colo.--(BUSINESS WIRE)--\nLiberty Media Corporation (“Liberty Media”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) and Atlanta Braves Holdings, Inc. (“Atlanta Braves Holdings”) announced today that, at Liberty Media’s virtual special meeting of stockholders held on July 17, 2023 at 10:30 a.m. M.T., the holders of Liberty Media common stock approved the previously announced split-off (the “Split-Off”) of Atlanta Braves Holdings, which will be the owner of the Atlanta Braves Major League Baseball Club and its associated real estate development project, and the previously announced reclassification of Liberty Media’s existing common stock and the creation of the new Liberty Live common stock (the “Reclassification”).\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230717228850/en/\nSplit-Off of Atlanta Braves Holdings\n\n\nAssuming all other conditions to the Split-Off are satisfied or waived, as applicable, at 5:00 p.m., New York City time, on July 18, 2023, Liberty Media will redeem, on a one-for-one basis, each outstanding share of Liberty Braves common stock in exchange for one share of the corresponding series of Atlanta Braves Holdings common stock. Following the effectiveness of the Split-Off, Liberty Media expects that Atlanta Braves Holdings will have approximately 10.3 million shares of Atlanta Braves Holdings Series A common stock, 981 thousand shares of Atlanta Braves Holdings Series B common stock and 50.4 million shares of Atlanta Braves Holdings Series C common stock (including 8.6 million shares of Atlanta Braves Holdings Series C common that will be issued in connection with the settlement and extinguishment of the Braves Group intergroup interests attributed to the Liberty SiriusXM Group and the Formula One Group in the aggregate) outstanding as of the Split-Off.\n\n\nLiberty Media and Atlanta Braves Holdings have been advised by Nasdaq that the shares of Atlanta Braves Holdings Series A and Series C common stock have been approved for listing on the Nasdaq Stock Market under the ticker symbols “BATRA” and “BATRK” and advised by the OTC Markets that the shares of Atlanta Braves Holdings Series B common stock have been approved for quotation on the OTC Markets under the ticker symbol “BATRB.” Liberty Media expects that Atlanta ...