NEW YORK—YES Network is trading in mouse ears for pinstripes, as the regional sports network has been purchased by Yankee Global Enterprises—the owners of the New York Yankees—from the Walt Disney Company. With the help of strategic partners Sinclair Broadcast Group and Amazon, Yankee Global Enterprises is acquiring the 80% of YES Network it did not previously own for a value of $3.47 billion.
Disney was required to divest a number of its regional sport networks as a condition of its acquisition of Fox earlier this year.
YES Network is an RSN that broadcasts games, programs and specialty content for the Yankees, Brooklyn Nets, Major League Soccer’s New York City FC and the WNBA’s New York Liberty.
The trio of Yankee Global Enterprises, Sinclair and Amazon will work together to enhance the network and position it as a leader in sports broadcasting across all forms of distribution, per the official announcement. Jon Litner will remain in his existing role of the YES Network.
“This transaction brings the YES Network and all of its popular programming even closer to the organization that inspired its very development,” said Hal Steinbrenner, CEO of Yankee Global Enterprises. “Along with our partners, we look forward to greatly expanding the way that sports content is delivered and consumed by fans everywhere.”
In addition to Sinclair and Amazon, additional equity investments for the deal were provided by RedBird Capital, and funds were managed by Blackstone’s Tactical Opportunities business and Mubadala Capital.