FWONK - Liberty Media wraps split-off of Atlanta Braves

2023-07-19 13:11:25 ET

Liberty Media has wrapped up a split-off of Atlanta Braves Holdings ( NASDAQ: BATRA ) into a separate publicly traded company.

Atlanta Braves Holdings has begun trading as its own stock on Nasdaq and the OTC Markets, and its shares are higher: ( BATRA ) +3.9% ; ( OTCQB:BATRB ) +27.9% ; ( BATRK ) +2.3% .

The newly separate company has planned a brief quarterly Q&A call to follow prepared remarks on Liberty Media's second-quarter conference call, set for Aug. 4 at 10 a.m. ET. Atlanta Braves Holdings will announced its second-quarter results that morning before the market opens.

Effective with the move , Atlanta Braves Holdings has outstanding an aggregate of 10,318,202 shares of Atlanta Braves Holdings Series A common stock ( BATRA ), 977,795 shares of Atlanta Braves Holdings Series B common stock ( OTCQB:BATRB ) and 50,423,293 shares of Atlanta Braves Holdings Series C common stock ( BATRK ).

The split-off is part of a months-in-the-works plan at Liberty Media that will also result in a reclassification of its tracking stocks to reflect the split-off.

Effective after the close Aug. 3, Liberty Media will reclassify into Liberty SiriusXM ( NASDAQ: LSXMA ), Formula One Group ( NASDAQ: FWONA ) and Liberty Live Group, holding the company's 35% stake in Live Nation Entertainment ( LYV ).

With that reclassification, LSXMA shares will be split into one new Liberty SiriusXM common share and 0.25 shares of the new Liberty Live.

Liberty trackers at midday Wednesday: ( FWONA ) -0.2% , ( FWONK ) -0.4% , ( LSXMA ) -1.6% , ( LSXMK ) -1.4% .

For further details see: