Disney: sells stake in the Yankees' network
(CercleFinance.com) - Disney said that it has sold its 80% stake in the YES Network, which delivers live coverage of the New York Yankees baseball games, to a group of investors based on a total enterprise value of 3.
5 billion dollars.
The newly formed investor group includes the Yankees and diversified television broadcasting company Sinclair Broadcast Group, amongst others.
They have acquired the remaining YES Network share capital that is not already held by the Yankees.
The deal is part of Disney's acquisition of 21st Century Fox, that required the sale of 21st Century Fox's interests in 22 regional sports networks including the YES Network, in order to proceeed.
The YES Network also delivers live coverage of the Brooklyn Nets baseball games and the New York City FC football games, as well as other sporting events.
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