The Toronto Blue Jays and New York Yankees stand for their national anthems before a spring training baseball game, Monday, Feb. 25, 2019, in Tampa, Fla. (AP Photo/Lynne Sladky)
March 08, 2019 - 12:20 PM
NEW YORK - The New York Yankees are buying back the YES Network, partnering with Amazon in a deal that will give the company the right to stream games in the team's broadcast territory.
The deal for the team's parent company to purchase 80 per cent of the network from The Walt Disney Co. values YES at $3.47 billion, nearly $500 million less than when 21st Century Fox acquired a majority stake in 2014.
Yankee Global Enterprises is the lead investor and partnered with Amazon.com Inc. and Sinclair Broadcast Group as its strategic investors, a person familiar with the negotiations told The Associated Press on Friday. The person spoke on condition of anonymity because the purchase was not announced and has up to 120 days to close.
News from © The Associated Press, 2019