ARTHUR BLANK or another Atlanta businessman could still end up with the Atlanta Braves – but they will probably have to wait at least a year.

Liberty Media Corp. appears to be the leading candidate to acquire the Braves from Time Warner Inc., according to local and national media. The transaction would involve a swap of assets-Time Warner would receive a large amount of its stock that Liberty Media now owns, plus cash and other assets. In return, Liberty Media would get the Braves.

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