Time Warner Sells Braves

Time Warner Inc. has reportedly sold the Braves to Liberty Media Corp. The deal would involve Time Warner transferring the Braves, a group of craft magazines and $1 billion in cash to Liberty in exchange for about 60 million shares of Time Warner. It could be up to 1.27 billion dollars. At the moment, it is unclear whether or not this will have a big impact on the team. Time Warner acquired the Braves in the early 90's from CNN founder Ted Turner.