Monday, September 01, 2014

Follow us:
Follow @NY1 on Twitter Subscribe to this news feed 

News

News Corp Buys 49-Percent Stake In YES Network

  • Text size: + -
TWC News: News Corp Buys 49-Percent Stake In YES Network
Play now

Time Warner Cable video customers:
Sign in with your TWC ID to access our video clips.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

News Corp has bought a 49-percent stake in YES Network.

Rupert Murdoch's company finalized the deal Tuesday with the Yankees' regional cable sports channel.

The Yankees will receive $500 million for agreeing to the transaction.

The agreement valued the network at $3 billion.

In three years, News Corp will decide whether or not it will increase its stake.

YES is currently owned by the Yankees, Goldman Sachs, Providence Equity and NJ Holdings.

The Bronx Bombers also committed to stay with the YES Network through 2042, pending Major League Baseball approval.

10.11.12.248 ClientIP: 54.89.94.159, 23.0.160.15, 10.48.37.141 UserAgent: CCBot/2.0 (http://commoncrawl.org/faq/) Profile: TWCSAMLSP