Atlanta Braves under new ownership

The sale of the Atlanta Braves is now official. Ownership of the franchise has changed hands, from Time Warner to Liberty Media. The deal valued at 450-million dollars was approved Wednesday evening by Major League baseball owners. In the deal, the Braves along with a group of craft publications and one-billion dollars in cash goes to Liberty Media. In return, Time Warner gets about 60-million shares of its' own stock.

The Braves were run by Ted Turner from 1976 until 1996 when Time Warner acquired the team in a merger with Turner Broadcasting.

Baseball commissioner Bud Selig said the Braves' management structure will stay the same, including general manager John Scherholz and manager Bobby Cox remaining in their current roles.