Sinclair, Others Complete Buy Of YES Network
Disney closed on the previously announced sale of the YES regional sports network in New York to a consortium comprising Amazon, Sinclair Broadcast Group, the New York Yankees and others, it was announced today.
The deal values the network at $3.47 billion.
Sinclair acquired a 20% interest in the network and is responsible for its distribution on cable, satellite and digital platforms. Sinclair said its 20% interest is valued at $346 million.
The Yankees also obtained a 20% interest.
“We are excited about partnering with such a renowned franchise as the New York Yankees,” said Sinclair CEO Chris Ripley. “With this investment, we will have 23 RSN brands, including Marquee with the iconic Chicago Cubs, and 21 RSN brands acquired from the Walt Disney Co. last week.”
In addition to the Yankees, YES is also home to the Brooklyn Nets, Major League Soccer’s New York City FC and the WNBA’s New York Liberty.
As a condition of its purchase of the Hollywood and international assets of 21st Century Fox imposed by the Justice Department, Disney agreed to spin off all of the Fox-branded RSNs.