Nov 14 News Corp is in the process of
closing a deal to buy a minority stake in New York regional
sports network YES, the Wall Street Journal reported on
Wednesday, citing sources.
A deal that values the home network of the New York Yankees
at about $3 billion is expected to be announced in the coming
days, the Journal reported.
News Corp will be acquiring about 40 percent of the network,
most of which will come from stake sales by Goldman Sachs Group
Inc and Providence Equity Partners, the Journal said.
News Corp owns Dow Jones & Co, which publishes The Wall
The deal comes amid rising fees for sports rights and
values for the networks that own them, the Wall Street Journal
News Corp could not be immediately reached for comment by
Reuters outside regular U.S. business hours.