Liberty Media eyes creating 3 new tracking stock groups
ENGLEWOOD, Colo. (AP) — Liberty Media Corp. plans to reclassify its common stock into three new tracking groups, which it expects will help it raise money more precisely for each group.
The groups will include Liberty Braves Group, Liberty Media Group and Liberty Sirius Group.
Liberty Braves Group will be tied to Liberty subsidiary Braves Holdings LLC, which indirectly owns the Atlanta Braves, certain assets and liabilities associated with the Braves’ stadium and a mixed use development project. Liberty Sirius Group will be linked to Liberty subsidiary Sirius XM Holdings Inc.
Shareholders of Liberty’s Series A, Series B and Series C common stock would receive shares of the corresponding series of Liberty Braves, Liberty Media and Liberty Sirius tracking stocks for each share of Liberty common stock held.
Liberty expects to complete the creation of the new tracking stocks in the first half of 2016.