News Corp. Acquires Major Stake In Yankees' YES Network

Law360, New York (November 20, 2012, 4:31 PM EST) -- News Corp. scooped up a 49 percent stake in the private equity-backed New York Yankees' regional television network, the company said Tuesday, adding to its fast-growing portfolio of sports broadcast assets in markets around the world.

Rupert Murdoch's media empire did not say how much it paid for the interest in YES, the Yankees Entertainment and Sports Network, though the network's total value has been pegged at $3 billion. Other investors, including team owner Yankee Global Enterprises LLC, Goldman Sachs Group Inc. and Providence Equity Partners,...
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