Braves sale cost 68 million Time Warner shares

[braves guru]

Liberty Media turned over more than 68 million shares of Time Warner stock in the deal that officially made the Colorado-based company the new owner of the Atlanta Braves late Wednesday night. Time Warner and Liberty Media disclosed early Thursday that Liberty exchanged 68.5 million shares of Time Warner stock for the Braves, the Leisure Arts Inc. group of craft publications and $960 million of cash. "With our thanks, we wish the people of the Atlanta Braves and Leisure Arts the best in the future," Time Warner chairman and CEO Dick Parsons said in a statement Thursday morning.

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