<p>John Malone, the chairman of Liberty Media Corp., indicated Tuesday that he was actively pursuing talks with Time Warner Inc. about acquiring the Atlanta Braves.</p><p>"Major League Baseball has been a great business and a great investment for people who have invested in it for many years," Malone said after the company's shareholders' meeting in suburban Denver. "It was a great investment for Ted (Turner). I guarantee he made a wonderful return."</p><p>Time Warner has been talking with Englewood-based Liberty about redeeming a major portion of its stake in the company for a combination of cash and some non-strategic assets. Liberty Media owns about 4 percent of Time Warner.</p><p>Liberty Media executives confirmed they were interested in Time Warner assets, but would not go into details. In response to a shareholder, Malone said his company would be interested in the Braves mainly as a way for Time Warner to redeem stock in a tax-free exchange that would give Liberty Media cash and assets.</p><p>Malone said if Liberty Media were to get involved with the Braves, it would have respect for continuity in team leadership _ and could bring in Turner, the team's former owner. "It's a fabulous team and very well run," Malone said.</p><p>"We love Ted. If he's interested, we'd love to involve him. For nothing else, he's great at a party," Malone said.</p><p>Turner Enterprises Inc. spokesman Phillip Evans said there have been no discussions so far about Turner being involved with the Braves.</p><p>The Liberty meeting was held one day after Liberty Media posted a $26 million first-quarter loss.</p><p>In a filing with the Securities and Exchange Commission, Liberty Media reported a loss of 1 cent per share compared with $254 million in net income, or 9 cents a share, one year earlier.</p><p>The company said sales at the QVC home shopping network rose 7 percent, to $1.56 billion, and its operating profit of $212 million was 6 percent higher than a year ago. The company also has a stake in the Starz Entertainment Group.</p><p>Separately, Malone praised News Corp. leadership and said his company has attempted to be a supportive shareholder even as Rupert Murdoch's sprawling media empire tries to keep in place a poison pill measure to fend off takeover attempts.</p><p>The company put the anti-takeover provision in place in 2004 after Liberty Media abruptly built up an 18 percent stake in News Corp.'s voting stock.</p><p>The move is a potential threat to the Murdoch family's control of News Corp., which owns the Fox TV network, Fox News Channel, the New York Post and newspapers in England and Australia. Murdoch's family owns about 30 percent of the company's voting shares.</p><p>The poison pill defense would help the Murdochs fend off any attack from Malone or others by allowing Murdoch and other shareholders to acquire shares at a deep discount should Malone move to increase his stake. That would drive up the price of a takeover.</p><p>"We don't think it's necessary. Our intents are entirely friendly," Malone said. News Corp. shareholders are expected to vote on the poison pill plan in October.</p><p>"We hope to have any differences with News Corp. resolved before we have to cast a vote," Malone said. "It's hard to vote in favor of a proposal designed to limit our flexibility."</p><p>At the meeting, shareholders passed proposals approving Liberty Media's previously announced plan to create two tracking stocks, with one for interests in QVC, Provide Commerce Inc., Expedia and IAC/InterActiveCorp and the other for remaining holdings.</p>
