The regional sports channel that has rights the games of marquee MLB franchise New York Yankees is about to shake hands with Rupert Murdoch and his News Corporation, according to the New York Times. News Corp. is said to be close to getting a minority stake in the property.
According to reports, the stake involved is approximately 40%, and the price tag will place the value of the property at about $3B.
In addition to the Yankees, YES carries the NBA New Jersey Nets and other sports teams home to the area.
According to the report, the shares being sold are coming from Providence Equity Partners and Goldman Sachs, which have been along for the ride since the network’s founding in 2001.