AOL/Time Warner has put the Braves up for Sale

This is the Best day any braves fan has been waiting for



Braves may be up for sale
Time Warner also could package Turner South network in deal

By TIM TUCKER
The Atlanta Journal-Constitution
Published on: 12/14/05
Time Warner is pursuing a possible sale of the Braves.

The company acknowledged Tuesday it has put a for-sale sign on Atlanta's major league baseball team as well as the Turner South regional cable network.

MOST POPULAR STORIES
Foreclosure begun on 2 of minister's churches
Braves may be up for sale
NBC Cuts Pamela Anderson Pole Dance Video
INS wants toddler deported
Man's Disappearance Spurs Cruise Probe

EMAIL THIS
PRINT THIS
MOST POPULAR



In response to questions from The Atlanta Journal-Constitution, Turner Broadcasting senior vice president Shirley Powell said: "We have engaged an investment banking firm to help us assess strategic options for Turner South and a significant programming contributor to that network, the Atlanta Braves franchise, which may lead to a sale of one or both assets."

New York-based Allen & Co. is the investment banker hired to shop the team and Turner South, Powell confirmed. She said "no formal discussions" have been held yet with any prospective purchaser.

Among the people who could be interested in having such discussions is Falcons owner Arthur Blank, a longtime baseball fan.

"If Time Warner decides to sell the Braves, and if we are approached, we would look at it. And if it made sense we would pursue it," said Kim Shreckengost, executive vice president of the Arthur M. Blank Group.

Blank was traveling and unavailable for comment, Shreckengost said.

The Braves and Turner South are parts of Time Warner's Turner Broadcasting division. Time Warner put the Braves and Turner South up for sale once before — in early 2003 — but took them off the market after selling the basketball Hawks and the hockey Thrashers.

In an e-mail to Turner Broadcasting employees at 11:15 p.m. Tuesday, a copy of which was obtained by the Journal-Constitution, Turner CEO Phil Kent wrote: "As a publicly held company we have a duty to our shareholders to operate in the most effective, efficient, fiscally responsible manner possible. That duty includes planning for the long-term success of our company. It may also include making strategic changes to the portfolio of assets that comprise Turner Broadcasting. . . . The financial return we might realize [from a sale of the Braves and Turner South] could be reinvested in other assets to strengthen our networks and businesses and, ultimately, drive greater growth for Turner Broadcasting."

The Braves, who have won 14 consecutive division championships, have cut their financial losses substantially in the past two years, partly by reducing the player payroll from $100 million to $80 million. But the team still is not a money-maker for Time Warner, a publicly traded company that has been under increasing pressure to maximize shareholder value.

Billionaire financier Carl Icahn, a Time Warner stockholder, has been aggressively pushing the company to take steps to boost its lagging stock price.

Another likely reason for shopping the team at this time is that baseball franchise values have been increasing. Forbes magazine valued the Braves at $382 million early last year, but one team currently for sale, the Washington Nationals, has drawn bids from eight prospective ownership groups willing to meet Major League Baseball's $450 million price tag.

Stan Kasten, former president of the Braves, Hawks and Thrashers, is leading one of the groups attempting to buy the Nationals. He declined to comment Tuesday when asked if he'd pursue a Braves purchase if he fails to land the Washington team.

Packaging the Braves with Turner South probably would make both properties more valuable to a prospective purchaser. Turner South typically televises about 60 Braves games per season, but that number could increase to about 100 in 2008, when the number of games shown nationally on TBS is slated to be reduced.

A sale of the Braves probably would not affect the team's status as national programming on TBS in the foreseeable future. That national TV rights deal is negotiated between Turner Broadcasting and Major League Baseball, and it recently was extended through 2014, with the maximum number of Braves games that can be aired nationally on TBS reduced from 90 to 45 beginning in 2008.

Through a spokesman, Braves president Terry McGuirk declined to comment Tuesday on Time Warner's decision to pursue a sale of the team.

 

Good.

Its about time.

 

yep..it's good news for Braves fans because 14 straight NL East titles is just a horrible way to run a team.

Dukey, STFU

 

Easy solarte, dukey is actually right. Salary limitations imposed by AOL are what has forced the Braves to dump one star after another in recent years, making their division run all the more remarkable. With a more realistic payroll, the Braves probably could have won another World Series or two, and they're going to need some advantages to stay competitive with Bobby Cox and John Schuerholz nearing the end of their time with the team.

 

the STFU applies regardless. The Braves being able to have the run they have had, and fans complaining about it, makes my skin crawl.

 

Not all, but a lot of fans are complaining more of the great players and prospects they have had to give away over the years.

 

I don't think they're complaining about the team so much as the management, and I do think the complaints are justified. AOL has really been screwing around with the Braves a lot more than most people realize, not only in limiting the players they can keep, but also forcing cuts in their scouting and coaching staffs as well.

 

Mike if the Braves get a new Once AOL no longer owns the Braves, the payroll will go up, even if it goes up to just $90 million. Then, the Braves would be able to keep their own players, as well as sign big time free agents. After all, the Braves could have signed a big time closer this off-season, but AOL said no. As a result, the Braves' bullpen for next year won't be any better then this year's pen was.

Sure, who ever will buy the Braves is a businessman; however, that being said, I don’t think that anyone who bought the Braves would tell JS, "You can’t sign any top player, I don’t care if you win or lose, I only care how much cash I make." If the Braves don’t sign a top player or two, then they won’t win the East or make it to the playoffs. Then the fans will stop showing up With a new


Not only will the braves win and keep wining the NL east but we will win the WS.

 

1-the "mismanagement" has won 14 straight NL East titles.
2-Fans DON'T SHOW UP TO PLAYOFF GAMES ANYWAY
3-STFU

 

I bet fans will show up to more playoff game if the team start signing a top FA and can keep it own player.maybe it just me.But i would much rather win The WS more and win the East Lass.You have no idea because you are not a braves fan how it make us braves fan feel so sick and mad.When the team Keep makeing Big Trade but ones the season is over they can't keep our Own FA.Do you think that the WoSox would win the WS if they did not keep it own player.Do you think that the Stro would have make it to the WS if they did not keep it own player.If the Braves can start keep our own FA you will not only see them win more playoff game but they will also make it and win the WS