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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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Liberty Media Is Splitting Off Atlanta Braves Into New Public Company

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deadline.com

John Malone’s Liberty Media is splitting off 2021 World Series champions the Atlanta Braves Baseball Club and related assets into a separate public company “to better highlight its strong value.” As part of a rejiggering of the Liberty universe, it is also creating a new tracking stock called Liberty Live to house its stake in Live Nation.

Liberty Live would join reconfigured Liberty Sirius XM and Liberty Formula One tracking stocks. These are specialized equities that highlight a specific division or segment of a business but where outside investors have little or no control.

They became big in the 1990s and have been a hallmark of Malone, a former telco and cable titan and highly regarded investor and financial engineer.

Liberty’s holdings over the years have touched much of media, including a big stake in Warner Bros. Discovery. The Braves’ assets are also currently held in a tracking stock, which would go away.

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