Yankees join Amazon, Sinclair to buy YES from Disney
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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%...
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