maybe4less Posted June 21, 2016 Share Posted June 21, 2016 Looks like it took 6 business days with the Liberty Broadband rights offering last year. Link to comment Share on other sites More sharing options...
rogermunibond Posted June 28, 2016 Share Posted June 28, 2016 http://www.businesswire.com/news/home/20160624005783/en/Liberty-Media-Corporation-Announces-Completion-Rights-Offering 96% subscribed. Barely any over-subscription rights available. Link to comment Share on other sites More sharing options...
Jurgis Posted June 28, 2016 Share Posted June 28, 2016 I got 1% of my oversubscription request. Or 6.5% of subscription. Seems like the allocation was based on subscription size, not on oversubscription size. Link to comment Share on other sites More sharing options...
Spekulatius Posted June 29, 2016 Share Posted June 29, 2016 I got 1% of my oversubscription request. Or 6.5% of subscription. Seems like the allocation was based on subscription size, not on oversubscription size. Unfortunatly, that appears to be the case and I don't get any shares. I only owned a few BATRA shares but signed up for several thousand more. Didn't work this time, but one can try. Link to comment Share on other sites More sharing options...
rogermunibond Posted June 30, 2016 Share Posted June 30, 2016 Nice valuation on MLB BAM. 1/30 of which goes to the Braves. http://www.bloomberg.com/news/articles/2016-06-30/disney-said-to-buy-stake-in-mlb-s-video-arm-in-3-5-billion-deal?cmpid=yhoo.headline Link to comment Share on other sites More sharing options...
dcollon Posted July 14, 2016 Share Posted July 14, 2016 Presentation from Denali attached thanks to Valuewalk BATRA-Presentation-2016.06-Final.pdf Link to comment Share on other sites More sharing options...
eclecticvalue Posted July 14, 2016 Share Posted July 14, 2016 I thought LMCA wasn't a tracking stock. Link to comment Share on other sites More sharing options...
eclecticvalue Posted July 25, 2016 Share Posted July 25, 2016 Interesting paper on tracking stocks. http://www.biz.uiowa.edu/faculty/avijh/2004%20JFR%20Tracking%20Stocks.pdf Link to comment Share on other sites More sharing options...
rogermunibond Posted September 21, 2016 Share Posted September 21, 2016 Anyone have access to the Gabelli analyst report on BATRA? Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted September 22, 2016 Share Posted September 22, 2016 I wonder if Ted Turner would be interested in owning all/part of the Braves again? He disagreed with them moving to Cobb County and probably hates that the team is so terrible, maybe the "skipper" would like to take back over. Link to comment Share on other sites More sharing options...
RedDaruma Posted September 22, 2016 Share Posted September 22, 2016 Anyone have access to the Gabelli analyst report on BATRA? Here you go, rogermunibond. Hope this helps. RDBATRA_20160916.pdf Link to comment Share on other sites More sharing options...
rogermunibond Posted September 24, 2016 Share Posted September 24, 2016 Thanks RD Analyst is pegging most of the value from revs increase due to the new stadium in 2017. Commercial RE value seems reasonable but the 1/30 of MLBAM seems a bit much. $3B for BAMTECH is an established valuation based on Disney's minority investment and option but valuation on MLBAM and the websites they own and MLB content seems steep. Link to comment Share on other sites More sharing options...
SnarkyPuppy Posted January 21, 2017 Share Posted January 21, 2017 Has anyone figured out how any monetization of BAM flows to the Braves? Seems entirely unclear to me. Are there BAM revenues/net income embedded within the Braves line item? Did the Braves receive a check for the sale of equity recently sold? Or is this all just theoretical ownership of equity that remains situated at the MLB level until fully sold off? Link to comment Share on other sites More sharing options...
Gordon Gecko Posted January 23, 2017 Share Posted January 23, 2017 Has anyone figured out how any monetization of BAM flows to the Braves? Seems entirely unclear to me. Are there BAM revenues/net income embedded within the Braves line item? Did the Braves receive a check for the sale of equity recently sold? Or is this all just theoretical ownership of equity that remains situated at the MLB level until fully sold off? I believe it is the latter. No direct monetization, just ownership of the MLB equity. To the best of my knowledge, BAM revenues do not flow through the Braves. Link to comment Share on other sites More sharing options...
smj Posted February 9, 2017 Share Posted February 9, 2017 https://www.forbes.com/sites/mikeozanian/2017/02/09/miami-marlins-claim-to-have-1-6-billion-handshake-agreement-for-team/#52be0305b133 Marlins may have a deal at $1.6B, Forbes valued them at $675M last year (29th out of 30). Braves were valued at $1.175M (13th out of 30). Link to comment Share on other sites More sharing options...
rogermunibond Posted February 10, 2017 Share Posted February 10, 2017 Big difference would be Marlin's RSN contract comes up for renewal in 2020 compared to the Braves who can't renegotiate their tv deal until 2027(?) iirc. Link to comment Share on other sites More sharing options...
smj Posted February 10, 2017 Share Posted February 10, 2017 Agree, but I believe that would have been taken into account in the Forbes valuation. My point being, this proves out the Clippers effect. There are a limited number of major sports franchises and when they do sell they typically sell at a huge premium to any justifiable valuation based on economics. The Marlins, with the exception of maybe Tampa, have the worst fanbase and I would guess one of the worst RSN ratings of any MLB Team. Braves have a huge regional following due to many years of all games being broadcast nationally on TBS during their glory days. Add a new state of the art stadium and if team actually turns it around in the field (last year minor league system was ranked #2) value should be a multiple of the Marlins and top 10 in the MLB in excess of $2B. Now if Liberty can only figure out a tax efficient way to realize this since they have such a low basis. Link to comment Share on other sites More sharing options...
thefatbaboon Posted April 5, 2017 Share Posted April 5, 2017 Link to comment Share on other sites More sharing options...
Liberty Posted July 13, 2017 Share Posted July 13, 2017 http://www.yetanothervalueblog.com/2017/07/brave-deeper-into-liberty-complex-batra.html Link to comment Share on other sites More sharing options...
rogermunibond Posted July 13, 2017 Share Posted July 13, 2017 Thanks for the link nice write up and more reasonable valuation wise than the Sum Zero write up from Wills Manley. Tho that one has a lot of good info and good discussion on the tax advantages of buying sports teams. Link to comment Share on other sites More sharing options...
bizaro86 Posted July 17, 2017 Share Posted July 17, 2017 Is there a tax efficient way to sell this while still maximizing price? The usual Liberty playbook seems to be to sell for shares, bit the best buyer here is a prestige and tax motivated buyer who is personally willing to overpay (Steve Ballmer). Is it possible to trade it tax free for shares the buyer already owns? IE, sell to Zuckerberg for Facebook shares (or whoever, just an example) Link to comment Share on other sites More sharing options...
EricSchleien Posted September 13, 2018 Share Posted September 13, 2018 New Podcast Episode Up: https://intelligentinvesting.podbean.com/e/liberty-atlanta-braves/ Link to comment Share on other sites More sharing options...
gfp Posted November 8, 2018 Share Posted November 8, 2018 Mario Gabelli adding to his personal holdings in Liberty Braves - https://www.sec.gov/Archives/edgar/data/807249/000080724918000211/xslF345X03/primary_doc.xml Link to comment Share on other sites More sharing options...
txvalue Posted March 18, 2020 Share Posted March 18, 2020 I sold my original position in the high 20s and hopped back in today. Love the price down here in the 13-14 range and Gabelli is on record that Liberty won't sell for less than $42. You've got the new stadium, a playoff team with youth and arguably the most exciting young player in baseball. Link to comment Share on other sites More sharing options...
KJP Posted March 18, 2020 Share Posted March 18, 2020 You've got ... arguably the most exciting young player in baseball. Judge and Torres play for the Yankees (hopefully sometime again this year)! Link to comment Share on other sites More sharing options...
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