The article below represents a preview only and is not meant for reuse or republishing.
Yankees join Amazon, Sinclair to buy YES from Disney
Click here to read full article from source
New York, Aug. 30 -- The New York Yankees have reacquired the YES Network, joining Amazon and the Sinclair Broadcast Group to buy an 80% stake in the channel from The Walt Disney Co.
The deal announced Thursday values YES at $3.47 billion, nearly $500 million less than when 21st Century Fox acquired a majority stake in 2014. Disney was required to sell off Fox's regional sports networks as part of its $71 billion deal to acquire Fox's entertainment assets, which triggered Yankee Global Enterprises' right-of-first-refusal to buy back YES Network shares. That deal closed in March.
Sinclair said it would buy 21 of the regional sports networks in May, but the 80% stake in YES was sold separately. Yankee Global Enterprises already held a 20%...
To read the full article or to get the complete feed from this publication, please Contact Us