Friday, January 24, 2014

BREAKING: Fox Buys Majority Stake In YES Network

Fox has a deal in place to buy the majority of the Yankees Entertainment and Sports Network, more commonly known as the YES Network. 21st Century Fox went from 49% to 80% with the remaining 20% staying with the Yankee Global Enterprises. The YES Network is now a fully consolidated 21st Century Fox entity, George Steinbrenner was truly a businessman and his dreams are paying off literally.

Fox has announced that CEO Tracy Dolgrin will remain in the same role with the YES Network, that is always nice. The purchase has not been finalized, the sale must meet regulatory approvals, but once it is approved the purchase should be finalized by the end of the first quarter in 2014. Nothing has been announced but the YES Network could be re-branded after the takeover into Fox Sports New York or some other variation, and that sucks.

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Sorry for the Capatcha... Blame the Russians :)