ATLANTA -- The Atlanta Braves may be on the market.
A statement released by the team Tuesday said Time Warner is
exploring the possibility of selling the Braves and the Turner
South cable network, which carries many of the Braves' games.
"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 the sale of one or both," Greg Hughes, the team's vice
president of public relations and communications, said in the
It is the first recent indication that Time Warner, formerly
known as AOL Time Warner, is considering selling the Braves.
All of the company's sports properties were on the market until
the sale of the Atlanta Hawks, Atlanta Thrashers and Philips Arena
was announced on Sept. 16, 2003.
At that time, TBS vice chairman Terry McGuirk said there no
longer was "an ongoing marketing plan to sell" the Braves.
McGuirk now is chairman and president of the Braves.
Forbes magazine estimated the Braves' value at $374 million in