Liberty Media has completed its plan to recapitalize into three new tracking stocks, the Liberty Braves common stock, the Liberty Media common stock and the Liberty SiriusXM common stock. The move reflects the company’s interest in the Atlanta Braves and SiriusXM.
Trading in the new shares is expected to begin today.
The company exchanged each share of A-series common stock for one share of Liberty Media XM (LSXMA), 0.1 shares of Liberty Braves (BATRA) and 0.25 shares of Liberty Media A-series common (NASDAQ: LMCA). Shares go to the corresponding stock series, so C series holders get LSXMK, BATRK, and LMCK back, for example.
The three series will trade on Nasdaq Global Select, except for Liberty Media series B (NASDAQ: LMCB) and Liberty Braves series B (BATRB) which will trade over-the-counter.