Benzinga - A leading media holding company that owns several entertainment assets and sports-related companies is reclassifying its public companies, a move that could give investors a more direct way to own a professional sports team
What Happened: There are only a handful of sports teams that are publicly traded. One of them is the Atlanta Braves, a Major League Baseball team. Owned as part of the Liberty Media holding companies, the Braves will soon be more uniquely represented as one public company.
On Thursday, Liberty Media announced changes to its public companies including the split-off of the Atlanta Braves and its real estate assets into a newly tracked stock.