News Corporation NWSA and Yankee Global
Enterprises today announced an agreement that calls for News Corporation to
acquire a 49 percent equity stake in the Yankees Entertainment and Sports
Network (YES). The YES Network delivers exclusive live local television
coverage of New York Yankees baseball and Brooklyn Nets basketball, as well as
other leading local and national sports-related programming. The YES Network
also announced a media rights agreement that will keep Yankees baseball on the
YES Network through 2042.
The media rights agreement is subject to Major League Baseball approval. The
investment is expected to close by the end of the calendar year.
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