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Thursday, November 15, 2012

News Corp nears deal to buy stake in Yankee sports network

News Corp (NWSA.O) is expected to announce this week that it has taken a minority stake in the YES Network, a New York-based sports channel that broadcasts Yankee baseball and Nets basketball games. The deal could be announced as early as Friday, according to a person with knowledge of the transaction.

The deal would expand News Corp’s network of 13 Fox regional sports channels and four other channels in which it is affiliated. Those channels have 67 million subscribers in Los Angeles, Houston and other cities.

The YES network is available in approximately 15 million homes.

News Corp will buy portions of the stakes held by Goldman Sachs (GS.N) and Providence Equity Partners, which are expected to maintain positions, the source said.

Gamingboy Posted: November 15, 2012 at 11:34 AM | 7 comment(s) Login to Bookmark
  Tags: business, try not to make it about politics please, yankees, yes network

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   1. RoyalsRetro (AG#1F) Posted: November 15, 2012 at 12:02 PM (#4303357)
John Sterling: The Yankees suffer a close 5-3 loss to the Rays tonight...

Karl Rove: I wouldn't call the game over yet. My numbers indicate Derek Jeter can still pull this game out with some clutch at-bats.

John Sterling: Uh, but the game is over Karl.

Karl Rove: Your numbers are wrong!
   2. Randy Jones Posted: November 15, 2012 at 12:06 PM (#4303359)
That's pretty funny, but clearly impossible. It would require Sterling to actually pay attention to a game he was broadcasting.
   3. RB in NYC (Now Semi-Retired from BBTF) Posted: November 15, 2012 at 12:16 PM (#4303370)
I wonder how much--if any--the Nets' move to Brooklyn has increased the value of YES
   4. Shoeless Swedish Chef Posted: November 15, 2012 at 12:38 PM (#4303386)
I can only assume that this is because they were panicking at Loria's meteoric ascent in the evil leaderboards.
   5. Randy Jones Posted: November 15, 2012 at 01:19 PM (#4303413)
Ehh, it's Goldman selling part of their stake to NewsCorp. So the Steinbrenners aren't even involved, and it's only a minor increase in overall evil.
   6. ERROR---Jolly Old St. Nick Posted: November 15, 2012 at 01:20 PM (#4303414)
That's pretty funny, but clearly impossible. It would require Sterling to actually pay attention to a game he was broadcasting.

Not really. It would only require him to notice the signature on his paycheck.
   7. eddieot Posted: November 15, 2012 at 04:06 PM (#4303605)
Murdoch, Steinbrenners, Goldman Sachs... man, talk about an evil empire.

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