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Disney has just sold its stake in the New York Yankees pay-TV service to a group that includes Amazon.
The movie and entertainment giant sold Thursday its 80% stake in the YES network to an investment group led by the Yankees and the Sinclair Broadcast Group. The agreement gives a value of $ 3.47 billion to the television service, which broadcasts the Yankees and Brooklyn Nets games.
The new owners of YES also include Amazon and investment companies such as RedBird Capital, Blackstone and Mubadala Capital, said YES Network.
The Yankees already held a 20% stake in YES, the most-watched regional sports network in the country in 14 of the last 16 years. YES also owns the local television rights of New York City FC, Major League Soccer, and New York Liberty of the WNBA.
The Post announced for the first time in March that Amazon would participate in the YES agreement.
"This transaction brings even more YES network and all of its popular programs from the organization that inspired its very development," said Hal Steinbrenner, CEO of Yankees.
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