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☆ Stock tracking World Series favorite Atlanta Braves can rally more than 30%, Rosenblatt says
▼ + stars: | 2023-09-06 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The Atlanta Braves ' new stock is a home-run idea, according to Rosenblatt. Analyst Barton Crockett upped his price target by $7 to $49, with the new estimate implying an upside of 36.6% over Tuesday's close. "Liberty Braves shares have notched some runs batted in this year," Crockett said. Major League Baseball's Atlanta Braves have the best record in baseball at 90-47 and are currently the favorite to win the World Series, according to FanDuel. An acquisition of the now-standalone Atlanta Braves also could happen amid a trend of billionaires shelling out for sports teams.

Persons: Rosenblatt, Barton Crockett, Crockett, there's, John Malone, CNBC's Michael Bloom Organizations: Atlanta Braves, Liberty Media, Liberty Braves, League Baseball's Atlanta Braves, Braves Group, MLB

"Simply put, Mr Massa is the rightful 2008 Driver's Champion, and F1 and FIA deliberately ignored the misconduct that cheated him out of that title," said the letter. There was no immediate response from the FIA and Formula One, which is currently on an August shutdown. PIQUET CRASHMassa was leading the 2008 Singapore Grand Prix from pole position when fellow Brazilian Piquet crashed into the wall on lap 14 of 61. The lawyers' letter warned that, without a satisfactory response, Massa intended to "pursue legal action in order to seek compensation for the harm he has suffered." Massa did not win again after 2008, with the Brazilian suffering a near-fatal head injury at the 2009 Hungarian Grand Prix.

Persons: Driver Felipe Massa, Hamad, Mohammed, Massa, Ecclestone, Felipe Massa, Stefano Domenicali, Mohammed Ben Sulayem, Law, McLaren's Lewis Hamilton, Mr Massa, " Massa, supremo Bernie Ecclestone, Max Mosley, Nelson Piquet's, PIQUET, Piquet, Fernando Alonso, insider.com Ecclestone, Hamilton, Mosley, Charlie Whiting, Rory Carroll, Alan Baldwin, Ken Ferris Organizations: Saudi, Prix, Jeddah Corniche, Driver, Grand Prix REUTERS, FIA, Reuters, Formula, Formula One, F1, supremo, Renault, Briton, F1 supremo, Liberty Media, Thomson Locations: Jeddah, Jeddah Corniche Circuit, Saudi Arabia, Paris, London, Singapore, Switzerland, Spanish

☆ Hedge funds are scrambling into these stocks with conviction, says Morgan Stanley
▼ + stars: | 2023-08-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Investors on the hunt for the new stock ideas may want to take a look at these name that garnered increased interest from hedge funds during the second quarter, according to Morgan Stanley. Here are some of the companies that made the list: Liberty Media experienced the largest uptick in ownership during the period, up 22.5%, according to Morgan Stanley's analysis. LSXMA YTD mountain Liberty Media shares year to date During the second quarter, Liberty Media remained among Baupost's top positions , with the Seth Klarman-led fund retaining a $486 million stake in the company. The company agreed to merge with UFC during the second quarter to create a new publicly traded company controlled by Endeavor . Shares have risen more than 63% this year, and ownership ticked up nearly 9% during the second quarter.

Persons: Morgan Stanley, Morgan, John Malone, Seth Klarman, Macy's, — CNBC's Michael Bloom, Yun Li Organizations: Liberty Media, Sirius XM Holdings, Entertainment, Pfizer, Wrestling Entertainment, UFC, Endeavor Locations: Seagen

☆ Baupost's Seth Klarman builds new stake in Amazon, adds a discount retailer to his portfolio
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Baupost Group's Seth Klarman picked up a few stocks last quarter during the market rally, including tech giant Amazon and discount retailer Dollar General . The billionaire hedge fund manager bought $125 million worth of Amazon shares in the second quarter when the e-commerce juggernaut rallied more than 26%. Klarman has traded in and out of Amazon in the past year. He also bought $41 million worth of Dollar General , as well as $36 million of Union Pacific shares last quarter. Shares of the retailer fell nearly 20% in the second quarter as it slashed its full year outlook after missing Wall Street's estimates for quarterly earnings.

Persons: Baupost, Seth Klarman, Klarman, Warren Buffett, Benjamin Graham's, Klarman hasn't Organizations: Union Pacific, Oracle, Boston, Liberty Global, ViaSat, Liberty Media, CNBC Locations: Union, Baupost

☆ Liberty SiriusXM shares get a shake-up. Here's a breakdown of the new structure
▼ + stars: | 2023-08-04 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Investing alongside Malone is complicated for individuals because Liberty Media has a string of tracking stocks for all its different businesses. The media conglomerate has two tracking stock groups: Liberty SiriusXM Group and Formula One Group. Liberty Media owns Formula One, which trades under tracking stock Liberty Media Formula One . Live Nation trades under its common stock ticker LYV, while's Liberty's share is available under the LLYVA and LLYVB tracking stocks. For the new Liberty SiriusXM tracking stocks LSXMK and LSXMA, the reclassification could help narrow the stock's wide discount to its net asset value, according to Citi.

Persons: John, Malone, SIRI, while's, BATRA Organizations: Liberty Media, Sirius XM Holdings, Entertainment, Liberty SiriusXM Group, Formula One, Nation Entertainment, Live, Major League Baseball's, Atlanta Braves, Liberty Media Corp, Nasdaq, Liberty, Citi Locations: New York

☆ The Atlanta Braves team is a stock you can buy and sell. Top execs describe what moves the shares
▼ + stars: | 2023-07-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"I think it gives shareholders an opportunity to feel like they're direct owners of the Braves," Liberty Media CEO Greg Maffei said Wednesday on CNBC's " Squawk on the Street ." Atlanta Brave Holdings encompasses the baseball team and its real estate development known as The Battery, which includes its ballpark, Truist Park. The newly public stock has dipped less than 1% to trade around $44 apiece since its first day of trading. The Formula One tracking stock hit an all-time high last month. The executive said profits of the franchise will continue to be driven by operations on the field and of the real estate.

Persons: Major League Baseball's, BATRA, Greg Maffei, We've, we've, Derek Schiller, Maffei, They're, Fanduel Sportsbook, Ronald Acuña Jr, He's Organizations: Atlanta Braves, Major League, Nasdaq, Liberty Media Corp, Braves, Liberty Media, Holdings, Turner Broadcasting, Major League Baseball

☆ Liberty Media CEO Greg Maffei: We are very bullish on the long-term prospects for F1
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLiberty Media CEO Greg Maffei: We are very bullish on the long-term prospects for F1Liberty Media CEO Greg Maffei joins 'Squawk on the Street' to discuss short sales of Sirius XM stock, developing a new tracking stock, and Liberty Media's short-term deal with ESPN coming to a close.

Persons: Greg Maffei Organizations: Liberty Media, F1 Liberty Media, Sirius XM, Liberty, ESPN

☆ Watch CNBC's full interview with Liberty Media CEO Greg Maffei
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Liberty Media CEO Greg MaffeiLiberty Media CEO Greg Maffei joins 'Squawk on the Street' to discuss short sales of Sirius XM stock, developing a new tracking stock, and Liberty Media's short-term deal with ESPN coming to a close.

Persons: Greg Maffei Organizations: Liberty Media, Greg Maffei Liberty Media, Sirius XM, Liberty, ESPN

☆ Atlanta Braves CEO Derek Schiller on going public: There's a lot of room for growth
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAtlanta Braves CEO Derek Schiller on going public: There's a lot of room for growthAtlanta Braves president and CEO Derek Schiller and Liberty Media CEO Greg Maffei join 'Squawk on the Street' to discuss the Braves ringing the opening bell at the Nasdaq this morning, becoming the only publicly traded MLB team following its split off from Liberty Media last week, and more.

Persons: Derek Schiller, Greg Maffei Organizations: Email Atlanta Braves, Atlanta Braves, Liberty Media, Nasdaq, MLB

☆ Sirius XM shares pull back after 'wild' gains with short squeeze in focus
▼ + stars: | 2023-07-21 | by ( Sinéad Carew | ) www.reuters.com time to read: +3 min

July 21 (Reuters) - Shares in Sirius XM Holdings (SIRI.O) were down 10.5% on Friday, erasing some of their dramatic gains in the previous day's session with analysts attributing the volatility to a short squeeze, as well as a rebalance of the Nasdaq 100 (.NDX). U.S. satellite and online radio company, Sirius XM, which is majority owned by Liberty Media (FWONA.O), last traded at $6.99 after closing up 42% at $7.81 on Thursday for its biggest one-day percentage gain since March 2009. A short squeeze is when these investors are forced to quickly cover their bets to limit losses if a stock gains ground instead of falling. "However, the large number of shares held short along with a relatively small float provided fertile ground for a short squeeze as seen on July 20," wrote Macker who estimates a $7.50 fair value for the stock. Evercore analyst Vijay Jayant said the upcoming rebalance of the Nasdaq 100, of which Sirius is a member, was also a factor for the short squeeze as well as related options trading.

Persons: Neil Macker, Macker, Vijay Jayant, Jayant, David Joyce, Joyce, Sinéad Carew, Medha Singh, Lance Tupper, Sharon Singleton Organizations: Sirius XM Holdings, Nasdaq, Sirius XM, Liberty Media, Atlanta Braves, Sirius, Liberty's, Research Partners, Thomson

☆ Silverstone, a Storied Formula 1 Track, Wants to Continue Its Tale
▼ + stars: | 2023-07-07 | by ( Alex Kalinauckas | ) www.nytimes.com time to read: +1 min

In 2008, Bernie Ecclestone, head of Formula 1 at the time, said the race would leave Silverstone. Then in 2017, the British Racing Drivers’ Club, the owner of the track, activated what is called the break clause in its hosting agreement, which would allow the club to stop holding the race. After two years of talks, a new deal was struck with Formula 1 and its new owner, Liberty Media, which had replaced Ecclestone. Based on its most recent financial filing, Silverstone made £6.9 million in profit in 2021. “The members, the 820 or so racing drivers or former racing drivers,” he said, don’t take money out.

Persons: Bernie Ecclestone, Ecclestone, Silverstone, Pringle, ”, don’t Organizations: Silverstone, British Racing Drivers ’, Liberty Media

☆ Rossi sees Reynolds' winning touch boosting Alpine
▼ + stars: | 2023-06-27 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

ENSTONE, England, June 27 (Reuters) - Renault-owned Alpine believe Hollywood actor Ryan Reynolds has the Midas Touch to help get the team back to the top in Formula One. "Most of you were probably expecting Ryan Reynolds," Otro Capital founder and partner Alec Scheiner jokingly told analysts at Alpine's Enstone factory for a strategy presentation. Alpine chief executive Laurent Rossi pointed to Reynolds' track record in business. Rossi said the investors, who have paid 200 million euros ($218.88 million), would develop revenues through merchandising, licensing and hospitality. The deal values Alpine Racing at around $900 million and Rossi said the numbers were only going up.

Persons: Ryan Reynolds, Reynolds, Rob McElhenney, Alec Scheiner, Laurent Rossi, Rossi, Otro, Goldman Sachs, Gerry Cardinale, RedBird, Scheiner, Luca de Meo, Alan Baldwin, Christian Radnedge Organizations: Renault, Formula, Wrexham soccer, Otro Capital, RedBird Capital Partners, Aviation, Mobile US, Ka'ena Corp, Mint Mobile, Diageo, Gin, Wrexham, English Football League, RedBird, Fenway Sports Group, Premier League, Liverpool, Boston Red Sox baseball, Toulouse, Milan, Liberty Media, Thomson Locations: ENSTONE, England, Wrexham, RedBird, Americas, Las Vegas, U.S

☆ Deal for Formula 1 Team Reflects Growing U.S. Interest in the Sport
▼ + stars: | 2023-06-26 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

They are buying a 24 percent stake in Alpine F1 Team owned by Renault Group. The investors are paying about 200 million euros ($218 million) for the stake, valuing the team at roughly $900 million. Formula 1 has jumped in popularity in the United States since its sale to Liberty Media in 2017. For Renault, the Alpine deal is aimed at raising the visibility of its Alpine electric vehicle line, as it pushes to have more than half its sales in E.V.s by 2030. In a news release, Renault’s chief executive, Luca de Meo, said the deal would increase the value of the Alpine F1 brand.

Persons: Ryan Reynolds, ”, Luca de Meo Organizations: RedBird Capital Partners, Otro, Alpine F1 Team, Renault Group, Liberty Media, Netflix, Renault, Alpine Locations: United States, Las Vegas, Miami, E.V.s

☆ These 'undervalued' and 'enticing' stocks are screaming buys heading into summer, analysts say
▼ + stars: | 2023-06-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Zillow An "enticing buying opportunity remains" in Zillow, according to Stephens analyst John Campbell. MarketAxess Atlantic Equities analyst Simon Clinch advised investors buy the dip in MarketAxess, the electronic trading platform for credit markets. To be sure, Clinch acknowledged that pressures remain, but the "long term growth opportunity remains attractive" and headwinds should soon turn into tailwinds. Booking Holdings- Argus, buy rating "We believe that BKNG shares are undervalued at current prices near $2,713. As such, our rating remains BUY.

Persons: Bowlero, Steven Wieczynski, Wieczynski, John Campbell, Campbell, Simon Clinch, Clinch, Zillow, Stephens, Cowen Organizations: CNBC, Liberty Media, Lucky, ZG, Company, Liberty Formula One, Booking Holdings, Argus Locations: Zillow, Atlantic

☆ 'There's a long runway for growth' in F1 racing, says TD Cowen's Stephen Glagola
▼ + stars: | 2023-06-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'There's a long runway for growth' in F1 racing, says TD Cowen's Stephen GlagolaStephen Glagola, TD Cowen analyst, joins 'Last Call' to talk Liberty Media Formula One, F1 racing in the U.S. and more.

Persons: Cowen's Stephen Glagola Stephen Glagola, TD Cowen Organizations: Liberty Media Locations: U.S

☆ These summer stocks are loved by Wall Street and set to beat the market
▼ + stars: | 2023-05-24 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A pause in trading on Wall Street on Monday for the Memorial Day holiday doesn't mean investors need to wait to find summer stock plays. Analysts' mean price target implies 11.4% upside for the stock, while 64.3% of analysts covering Formula One Group rate it as a buy. Yum China has so far posted a more muted performance in 2023 with a 4.6% gain. Average analyst price targets imply nearly 27% upside for shares of Yum China. YUMC YTD mountain Yum China Holdings stock.

Organizations: Entertainment, CNBC, Vegas Sands, Liberty, Formula, Honda, Aston Martin, Liberty Media Group, Yum, Yum China Holdings Locations: Vegas, Nassau County , New York, China, Yum China

☆ McLaren call for cost cap changes to promote sustainability
▼ + stars: | 2023-05-18 | by ( Alan Baldwin | ) www.reuters.com time to read: +2 min

LONDON, May 18 (Reuters) - McLaren have urged Formula One to change the cost cap rules to help teams promote sustainability without compromising performance. McLaren Racing boss Zak Brown said on Thursday that teams should not have to choose between spending on car performance and sustainability initiatives that were currently included in the cost cap. "We strongly believe in the cost cap and wouldn't want to see anything that undermines its integrity," said the American in a statement as the team published their annual sustainability report. Formula One introduced a cost cap in 2021 to rein in spending and level the playing field between the big teams and smaller outfits. Brown said Formula One needed financial, technical and sporting regulations that enabled teams to innovate and invest in sustainability.

☆ Why value investor Bill Nygren calls this media spinoff the best trade of his career
▼ + stars: | 2023-05-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

More than three decades after the money-winning trade, Bill Nygren still calls buying up shares of Liberty Media as it was spun off from Tele-Communications Inc. one of the best stock moves of his career. When the spinoff occurred in 1991, the deal itself was complicated for investors to break down and analyze, Nygren explained. So they looked at an asset-by-asset valuation and determined that the assets inside Liberty were worth three times the cost of purchasing the TCI shares. The deal was structured so that TCI shareholders received the right to buy Liberty stock based on how much they owned. And, because Liberty came out a more levered company, the firm ended up owning about 15% of it, Nygren said.

☆ F1 should strike deal while iron is hot, says rights holders
▼ + stars: | 2023-05-05 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

Liberty Media CEO and President Greg Maffei said stakeholders should come together, "strike while the iron is hot" and extend the current agreement that runs through 2025. The deal with Liberty Media, the governing FIA and teams sets out the terms and commercial arrangements under which the teams race. I think Liberty has done a great job with the sport. "The digital age has advanced since we did the last agreement and I think it needs to be discussed. "But I think for the most part it is a solid agreement, it's working so we don't need to fix what is not broken."

☆ Morgan Stanley says stock spinoffs trounce the market, and here are some upcoming opportunities
▼ + stars: | 2023-04-28 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

"Spin-offs present investors with a unique opportunity to capitalize on unlocked and potentially underappreciated value," Morgan Stanley strategists said in a note. It found that spinoffs outperformed the market by 10% two years after deal completion, while parent companies underperformed by 8%. The spinoff index posted a 9.1% total return, compared to the S & P 500's 6.7 return during the same period. Parent companies tend to get a boost leading up to a spinoff announcement as investors speculate on the move, but the pop usually fades post-announcement, Morgan Stanley said. Morgan Stanley highlighted a slew of companies that have recently announced a spinoff plan, including Fidelity National Information , BorgWarner , Liberty Media and Danaher.

☆ Insiders say Tucker Carlson overplayed his hand at Fox but the 'whole universe' of right-wing media is courting him now
▼ + stars: | 2023-04-25 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +8 min

the Fox insider said. Lachlan Murdoch had defended Carlson time and again, most publicly in April 2021, pushing back against Anti-Defamation League complaints of the anchor's "great replacement theory" comments. Lachlan Murdoch and Rupert Murdoch. A second Fox News insider, who is familiar with conversations happening in Australia, said Lachlan Murdoch was looking long term. The board has also put pressure on the Murdoch family to change things at Fox News.

☆ SiriusXM cuts 8% of its workforce as part of a broader reorganization
▼ + stars: | 2023-03-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

"We are entering into a new phase for our Company," CEO Jennifer Witz said in an email to employees on Monday. In November, the CEO had told the company that as part of their 2023 plans there would be a review of the company. "However, today's decision to reduce our workforce was required in order for us to maintain a sustainably profitable company," Witz said. After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8%. However, today's decision to reduce our workforce was required in order for us to maintain a sustainably profitable company.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

☆ M.D. Sass is betting big on these out-of-favor stocks, expecting growth, recession or not
▼ + stars: | 2023-02-18 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

"Myself and the team really did a lot of introspection," Sass recalled, in an interview with CNBC. Sass Concentrated Value portfolio, which the younger Sass manages. By limiting the number of stocks, Sass said he can do extensive due diligence and research into each of the companies it owns. The goal is to find value in underappreciated companies that are in the midst of a transformation that will accelerate growth and ultimately lead to a boost in a stock's value. 'Digging under rocks' To place his bets, you won't see Sass looking strictly at a stock's price-to-earnings multiple.

☆ F1 will never gag any drivers, says Domenicali
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 7 (Reuters) - Formula One will never gag anyone, chief executive Stefano Domenicali has stated in response to a pre-season controversy between the governing FIA and drivers over 'political' statements and freedom of speech. read moreThe move has been condemned by rights groups and criticised by drivers, who have spoken of their unhappiness and uncertainty. read more read more read more"F1 will never put a gag on anyone," said Domenicali. "Everyone wants to talk so to have the platform to say what they want in the right way the better it is. "I believe the FIA will clarify what has been stated, in terms of respecting certain places where you cannot do it," said Domenicali.

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