Nov 20 News Corp will acquire a 49
equity stake in the YES Network from the New York Yankees
baseball team and its partners, the media conglomerate said on
After three years, News Corp can acquire a bigger stake that
could bring its ownership to 80 percent, the company said in a
joint statement with Yankee Global Enterprises, the owner of the
News Corp said the current YES Network owners, including
Yankee Global Enterprises, Goldman Sachs and other
investors, would reduce their stakes as part of the transaction.
A person familiar with the deal had previously told Reuters
that the deal would value the sports channel at $3 billion.