The deal, which values the team at $450 million, was submitted to Major League Baseball for its approval process, two people familiar with the deal said, speaking on condition of anonymity because no announcement had been made and publicly traded companies were involved.
The Wall Street Journal, which first reported the finalization on its Web site, said Time Warner will transfer the Braves, a group of craft magazines and $1 billion in cash to Liberty in exchange for about 60 million shares of Time Warner. Based on the closing price of Time Warner's stock Monday, the market value of those shares would be about $1.27 billion.
Now I'm not a financial analyst but something about those quotes sticks out to me. Liberty is trading 60 million shares of Time Warner ($1.27 billion current market price) for $1 billion in cash, the Braves ($450 million market price) and a group of magazines.
Any chance MLB nixes the deal because the Braves appear to be sold for much less than their estimated value?