The Liberty Media chairman helped engineer the creation of Warner Bros. Discovery. That deal has so far been a bust.
Liberty Media’s annual investor day, to be held Thursday, will offer an opportunity to hear from Chairman John Malone and CEO Greg Maffei about the company’s complex group of businesses and the challenging media landscape.
Liberty Media, which Malone controls, owns or has spawned several businesses whose shares trade separately. There is no all-encompassing Liberty Media stock. Malone has long been close to Warner Bros. CEO David Zaslav and expressed “enormous confidence” in him at last year’s Liberty investor day. Investors are wondering whether the spinoff of the Braves baseball team could be a prelude to a sale, given the hot market for pro sports teams and the Braves’ status as one of the most valuable and best-run teams in Major League Baseball. The team is now valued at about $2.2 billion and some think it could fetch $3 billion or more in a sale.
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