Disney sells stake in YES Network to a group of investors including Amazon



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Jeff Bezos, founder of Amazon and Blue Origin, will speak at the JFK Space Summit, on the occasion of the 50th anniversary celebration of the moon landing, at the John F. Kennedy Library, Boston, June 19, 2019.

Katherine Taylor | Reuters

Disney announced Thursday it sold its stake in the YES network to a group of investors including Amazon.

The group of investors, which also includes the Yankees and the Sinclair Broadcast Group, has acquired the 80% stake in the YES network, which was not yet owned by the Yankees, the statement said. The total value of the transaction was $ 3.47 billion, according to the announcement.

Disney has agreed to sell the 22 Regional Sports Networks (RSN) owned by 21st Century Fox as a condition of the acquisition of the company by Disney. The YES network, which broadcasts Yankees games and other local sports and specialty content, is one of the NSRs that the Department of Justice has asked Disney to sell.

A press release from the investor group says the Yankees, Sinclair and Amazon will form a "new strategic partnership". He does not specifically describe Amazon's role in the partnership, but says the Yankees "will exemplarily contribute to excellence in the development, production, and marketing of compelling sports content for fans around the world." virtual distribution relationships. "

YES Network president Jon Litner will remain in his current position, the statement said.

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