20 November 2012 8:31 AM, PST | Deadline TV | See recent Deadline TV news »

Yes Network has local media rights to the New York Yankees and Brooklyn Nets and becomes the newest regional sports network for News Corp. The network commands almost $3 per subscriber per month in fees, according to SNL Kagan, making it among the most lucrative RSNs in the country. (Time Warner Cable’s new La channels that carry the La Lakers get a reported $3.95 per sub per month.) The News Corp-yes deal means current owners Yankee Global Enterprises, Goldman Sachs and others will reduce their stake, and News Corp has the option to acquire an additional stake after three years that could give it up to 80% of the network. No other deal terms were announced, but the acquisition is reportedly valued at $3 billion — lower than the $4 billion sellers had suggested. Here’s this morning’s release: New York – November 19, 2012 – News Corporation (Nasdaq: Nws, Nwsa; Asx: Nws, Nwslv) and Yankee Global Enterprises »


Report a problem

Similar News Items

"Saturday Night Live" (1975)
Time Warner Cable

IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.

See our NewsDesk partners