Time Warner Inc. reached a deal to sell the Atlanta Braves to Liberty Media Corp. after more than a year of negotiations, The Wall Street Journal reported Monday. The agreement, which must still be approved by Major League Baseball owners, would involve Time Warner transferring the Braves, a group of craft magazines and $1 billion in cash to Liberty in exchange for about 60 million shares of Time Warner, the Journal reported, citing an unidentified person familiar with the deal.